Japanese Electric Furnaces Increase Price in September

Kyoei Steel announced on Thursday the firm increases concrete reinforcing steel bar price by 5,000 yen per tonne in September due to the increase in overseas market price and rebound of ferrous scrap price. The firm aims to improve profitability while the firm reduced the selling price by 5,000 yen in August.

Japanese rebar demand remains low. However, the dealers get higher order when the buyers expect higher price with rebounded price in China. Kyoei Steel aims to increase the price more after September keeping supply and demand balance.

Osaka Steel and JFE Bars & Shapes increase the price by 3,000 yen per tonne for equal angle, unequal angle and channel from the order in September, according to dealer sources while Sumikin Steel & Shapes increases H-beam price by 3,000 yen for the output in September.

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