Recently, the US and Chinese steel mills have increased the steel wire prices despite of the weak steel flat product market.

Industry insiders pointed out that the steel wire prices have turned firm in Taiwanese market recently in spite of the soft demand. For the prospect, Taiwan’s steel wire prices are expected to soar, driven by the rising prices in international market

The international steel flat product market has remained soft recently. For instance, the US steel mills’ ex-factory prices of hot rolled steel sheet are at US$850/ton in comparison of the spot prices of US$760~US$770/ton.

However, the international steel wire market has stayed in upward trend recently. It’s known that some US steel mills have increased the steel wire prices for July delivery US$30~US$33/ton averagely.

Also, China’s Wuhan Iron and Steel Corp. (Wisco) raised the steel wire prices by RMB100/ton for July delivery.

Affected by these factors, industry insiders have been seen the positive outlook for Taiwanese steel wire market.