Japan Rebar Price to Reach FOB US$ 1,000/t

Japanese concrete reinforcing steel bar export price is approaching to FOB US$ 1,000 per tonne under strong demand from South Korea and Taiwan. Japanese makers got order at more than US$ 900 per tonne from South Korean buyers for June-July shipment. The export price could increase more when Japanese steels already got order for billet at more than US$ 1,000. Japanese rebar price was just more than US$ 600 per tonne at the beginning of the year. The price reached US$ 780-790 for April shipment. Japanese steels restarted the order acceptance after the temporally offer stop under surging yen/dollar rate in earlier the year. Japanese steel makers get rebar inquiry at US$ 980 per tonne from US buyers. Japanese rebar makers’ domestic shipping price is around 75,000 yen per tonne, which is around US$ 260-280 lower than export price. The makers try to take chance in high priced export market to improve the profitability.