The reinforcing steel bar price around Tokyo is flat at 58,000 yen per tonne for base size under right after the New Year holiday. The electric furnace steel makers that produce small deformed bar, persists product adjustment for proper making supply and demand, the market price is continuing to firm condition. The electric furnace steel makers stopped operations about one week between the year-end and new-year. Though days are average at the ordinary year, the supply of small deformed bar is expected to be tight under the demand for metropolitan area is firm and makers plan to regular repair and equipment update construction. On the other hand, ferrous scrap price is decreasing in Tokyo. The local electric furnace steel makers pay 22,000-22,500 yen per tonne for H2. Offshore steel makers are reluctant to buy Japanese scrap, and the local supply ease tendency become strong. The ferrous scrap price is likely to continue decreaseing for a while.
Japan Steel Scrap Composite Prices (Sangyo Press)12/08/2023
|49900YEN (-)||51400YEN (-)|
|345.93US$ (9.15)||356.33US$ (9.43)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)