Ex-South Korea galvanized wire offers to China

SteelOrbis has learned that a South Korean mill has offered 1.40 mm diameter JISG3521G SW-C grade galvanized hard drawn steel wire to China at $1,240-1,290/mt CIF Shanghai on actual weight basis, to be paid in advance by telegraphic transfer (TT) for mid-January shipment. Meanwhile, 1.90-2.00 mm diameter JISG3522 SWP-B grade galvanized piano wire has been offered from South Korea to China at $1,430-1,480/mt CIF Shanghai on actual weight basis, to be paid in advance by telegraphic transfer for end of January shipment. As the Chinese automotive industry is growing rapidly, demand for high quality and tensile wire is growing steadily. For example, galvanized wire is used in window regulator systems, piano wire in breaking systems, and most important, oil tempered wire is used in engine valves and clutches. Currently, only a few mills in China can produce oil tempered wire. Therefore, the market is basically controlled by the product manufacturers in Japan, South Korea, Sweden, etc.