JFE Bars & Shapes Increases Flat Bar Price for 4 Consecutive Months

Japanese major electric furnace steel maker, JFE Bars & Shapes Corporation raised the selling price of frat bar by 10,000 yen per tonne effective for May orders due to rising ferrous scrap and sub-material costs. The firm has raised the price for 4 consecutive months, by total 35,000 yen since the beginning of this year. The firm pays attention to shipment and inventory levels to keep the moderate balance.The firm raised the price by 8,000 yen in February, by 7,000 yen in March and by 10,000 yen in April. However, material price such for ferrous scrap increased more than the firm’s hike. The firm aims to recover profitability by the hike. Flat bar market price is increasing to 120,000 yen per tonne for the base size due to makers’ price hike. Dealers keep inventory level decently, which are expected to increase their selling price to over 130,000 yen per tonne.