Kyoei Steel announced on Wednesday the firm doesn’t release pricing for concrete reinforcing steel bar at all plants for July. The firm tries to avoid confusion when ferrous scrap market could rebound while the rebar market price decreases. The firm tries to improve the actual price level while the firm keeps the production at the demand level.The market price is decreasing when the buyers hold the order. The lower ferrous scrap market, which decreased by around 15% in a month, impacts on the rebar market price while the ferrous scrap market is uncertain under the wider volatility in recent years. The firm expects the actual demand keeps firm. The firm tries to improve the actual rebar price level to realize the reproducible margin while the firm doesn’t release the targeted price level.
Japan Steel Scrap Composite Prices (Sangyo Press)07/10/2020
|22100YEN (-)||24200YEN (-)|
|204.38US$ (0.34)||223.8US$ (0.37)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)