Electric Furnaces to Set Section Selling Price Unchanged for September

Osaka based major electric furnace steel maker, Kyoei Steel announced on Thursday the firm sets concrete reinforcing steel bar selling price at 65,000 yen per tonne for September. Ferrous scrap market price is weak. However, the firm sets rebar selling price at unchanged for September with expectation for higher ferrous scrap price and rebar demand increase in autumn. The firm plans to increase rebar selling price in and after October.

Ferrous scrap market price is decreasing around Osaka due to the maintenance outage by local electric furnaces. However, the scrap price would increase in autumn when the steel makers including integrated steel makers increase the steel output. The steel demand is increasing for construction.

JFE Bars & Shapes announced on Thursday the firm sets unchanged equal angle steel, unequal angle and channel steel selling price for September order from August. The firm tries to stabilize section steel market price when ferrous scrap market price is firm.

The firm plans to reduce the steel section output due to lower order backlog and electric power consumption control in this summer.