Wire Rod Price Remains Stable, Chun Yu and Tycoons are Optimistic

While steel price are currently lower, wire rod market demand remains stable and helps support wire rod price. The fastener manufacturing giants Chun Yu and Tycoons are cautiously optimistic about the first quarter. According to China Steel Corp., prices of the 7 top steel types (hot-rolled, cold-rolled, steel plate, Hot-dip galvanized, electro-galvanized, electromagnetic steel, wire rod) are generally trending downwards this year. Among them, wire rod price performs the best.

 

Wire rods are the material for screw, bolts, and hand tools. As Taiwanese fastener industry sees booming reception of overseas orders, production and sales continues to peak and set new records. Processing plants in the heartland of Taiwanese fastener industry (Gangshan District and Luzhu District of Kaohsiung City) often have to work overtime until late night. Demand for wire rod and wire stays high.

 

Taiwanese fastener industry continues to level up. It has high acceptance for high-end materials, and buys low-price wire rods generally for the sake of making standard and low added-value fasteners. On the whole it has confidence in the prospect for wire rods. Chun Yu and Tycoons will have better performance in the first quarter.  On February Chun Yu's stock closed at NTD 14.5, up NTD 0.05; Tycoons closed at NTD 5.91, down NTD 0.03.

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