Reportedly, the Japanese steelmakers recently started the price negotiation for steel wires for November/December deliveries with the Asian buyers. The Japanese steelmakers have sought to raise steel wire export prices by US$20~US$30/ton. Once the Japanese steelmakers hike price successfully, the export prices of most steel wire products will reach US$800/ton CFR. Industry sources indicated that the strong demand from the Asian automobile industry has supported the Japanese steelmakers to raise steel wire export prices.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=66652&division=A4
