China Steel Corporation (CSC) Vice President of Commercial Division, Chia-Cheng Lee, announced that third-quarter bar and wire rod prices will increase moderately.

Speaking at a June 2 meeting with fastener manufacturers, Lee explained that despite weak screw exports dropping below 90,000 tons in April, structural factors defend the price adjustment.

Global steel supply constraints persist. China's annual crude steel output decreased by about 100 million tons compared to 2021, and new Chinese export control licensing limits shipments. Besides, Middle East conflicts triggered significant increases in oil, energy, and transportation fees, raising domestic manufacturing costs.

On the demand side, a survey covering 90% of customers revealed that their wire rod inventory fell to 360,000 tons, the lowest level since 2020. Lee identified this as rigid, immediate-need purchasing rather than speculative restocking.