Japan's export prices of wire rod produced by blast furnace mills remained unchanged for March shipments.
However, the price has been increased by US$20~US$30/ton for January and February shipment.
The reason for price unchanged is that Chinese steel mills such as Baosteel and TISCO keep their prices stable before upcoming Chinese New Year in the end of January. Taiwan's China Steel Corporation and some other steel mills also leaved wire rod prices unchanged as well.
Demand for wire rod produced by blast furnace is still robust, especially for automotive industry in China and the U.S. In addition, Korean steel mills also hiked their export prices by US$30/ton for February and March shipments. The prices are uncertain to be accepted by most buyers though.