Reportedly, the Japanese blast furnace (BF) mills are having a price negotiation for steel wire with Asian buyers for August and September delivery.
It's known that the Japanese BF mills are seeking to raise the prices due to strong demand from automobile industry. However, the price rise is unfavorable to buyers as the steel wire prices have been falling in Asian market.
According to statistics, Thailand's May car outputs totaled 203,000 units, surging substantially by 105.3% year on year.
Meanwhile, Japan's steel wire exports to Indonesia soared by 26.4% month on month to reach 52,000 tons