Kyoei Steel, Japanese top maker of reinforcing concrete steel bar, announced on Friday the firm reduces the rebar selling volume from Hirakata works in Osaka by 50% for April contracts compared with March. The monthly rebar sales of Hirakata works will become to about 15,000 tonnes for April contracts. The firm aims to reduce order backlogs by order cut in April when the material costs seems to increase more in spite of rebar supply tightness. The firm also mulls rebar price hike for April contracts.Kyoei Steel raised its rebar selling price by 3,000 yen per tonne at Hirakata works for March contracts, when ferrous scrap price kept upward trend and sub material costs increased. Ferrous scrap price keeps increasing after the hike.
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Japan Steel Scrap Composite Prices (Sangyo Press)
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