Kyoei Steel, Japanese biggest rebar maker, announced on Friday to reduce the output of rebar by 20% for 2 months in November-December in Hirakata works and Nagoya works compared with the same period of last year. The firm reduces the contracted volume of the rebar by 50% in Hirakata works in November over the previous month and don’t change the selling price. The firm keeps the contracted volume of Nagoya works in November from last month.Because the construction of the reinforced concrete building is running late due to the influence of Japanese building standard law, the firm reduces the output.If the work of building certification would normalize, building construction recover. However, the firm forecasts the recovery of the demand would become after February at the earliest.
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Japan Steel Scrap Composite Prices (Sangyo Press)
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