Rebar Maker Raises Selling Price by 2,000 yen/t in Tokyo

Concrete reinforcing steel bar maker by electric furnace raise their selling price by 2,000 yen per tonne from October order around Tokyo. They respond ferrous scrap price increasing with tight situation of the supply and demand. If their price hike spread, the market price would reaches at 60,000 yen per tonne with base size for 19 millimeter in diameter since June 2005. Tokyo D-Bar Steel, the selling joint company of major re-bar makers, Godo Steel and Tokyo Tekko, will increase the selling price by 2,000 yen per tonne from October order. Both firms’ purchase price of ferrous scrap rose by over 3,000 yen per tonne for a month. Both firms respond their cost increasing including higher cost of other materials.