2/12/2011 10:07:00 AM
Taiwan & Japan Wire Prices Headed Up

Taiwan’s China Steel is expected to raise prices for April and May, Fastener World magazine of Taiwan reported.
The wire price hike is due to increasing material prices, which rose 20% from 2009 Q4.

CSC noted the global price of flat steel billets has been up to US$750 per ton and hot rolled $710 to $720. In addition, with the global economy turning up, that pushes steel prices up.

Japanese steel companies reached an agreement with iron ore producer CVRD in Q1 2011. Q1 iron ore price will go up 7% from $126 per ton to $135.

Chinese steel companies are still negotiating with iron ore mining companies, but anticipate similar increases.  ©2011 GlobalFastenerNews.com