Tokyo D-bar Steel, which is a concrete reinforcing steel bar sales company jointly operated by Japanese two major electric furnace steel makers, Godo Steel and Tokyo Tekko, raises its rebar selling price by 2,000 yen per tonne effective for March contracts. Tokyo D-Bar Steel previously announced the price hike by 3,000 yen effective for October 2011 contracts. The company explained they aim the price improvement to the level enough for sustainable production while continues output control along with the actual demand condition. Tokyo D-bar Steel eyes an additional price hike in or after April when electricity charge and material costs are forecasted to surge.
Japanese ferrous scrap export price at Kanto Tetsugen’s export tenders averaged 34,300 yen per tonne in CY2011, increasing from average 31,500 yen in CY2010. Kanto Tetsugen is a group of local ferrous scrap dealers around Tokyo. Meanwhile, in and after April, electricity charge is forecasted to surge by 2,000 yen per tonne or more. Japanese electric furnace steel industry is estimated to suffer 0.5-1.0 billion yen power cost up. Substantial material prices are also likely to increase such for electrode. Tokyo D-Bar Steel aims to reflect these costs up on the rebar price. The company’s rebar shipment declined from mid January to mid February while recently keeps year-to-year plus volume. The firm considers the demand is stable. Rebar shipment is expected to increase for large building constructions toward mid 2012. The supply might tighten in and after April. Rebar market price is currently lowering. Tokyo D-bar Steel tries to penetrate the initial hike by 2,000 yen first of all.Japan Steel Scrap Composite Prices (Sangyo Press)
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