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Wire and Coil Factories Expect Stable Wire Rod Price in Q3 While Fastener Factories Keep Conservative

2013-05-06

Impacted by the recently announced price of wire rod by Taiwan CSC for June, the price of wire and coil in May is mostly flat. However, due to the low steel price currently, some companies said there should be some margin for bargaining. The wire rod price in Q2 is sure not to decline, so most companies have confidence in their order acceptance in Q2. As for the operation in Q3, companies still have to observe the fluctuation of wire rod price announced by Taiwan CSC for July and August. Although the wire and coil factories consider or expect that the wire rod price will be stable, fastener maufacturers are comparatively conservative and think the wire rod price may be lower. The order acceptance in Q2 is not as good as in Q1 and the consideration for Q3 is also going to be conservative. Furthermore, to view the current global steel prices, there should be some margin for the decline of the wire rod price.