Kobe based concrete reinforcing steel bar maker, Daiwa Steel’s Mizushima plant increases the selling price by 3,000 yen per tonne for users in western Japan for January order, for which the firm started to accept order the week. The firm decided the wide hike to cover higher cost for ferrous scrap and other materials while the firm tries to increase the lower selling price than other long products. The local supply is very tight with strong building demand and the firm has around 2.5 months of order backlog.
Japan Steel Scrap Composite Prices (Sangyo Press)
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