JFE Bars & Shapes Increases Sections, Flat Bar Price in March

JFE Bars & Shapes increased equal-angle steel and channel steel by 3,000 yen per tonne for order in March while the firm increased flat bar price by 5,000 yen. The price of angle and channel increases by 6,000 yen from the beginning of 2010 when the firm raised the price in February order. The firm could raise the price more while ferrous scrap price is expected to increase.

The buyers expect the steel products’ price should increase more when the electric furnace steel makers increase ferrous scrap purchase price. The dealers try to increase the purchase volume to build inventory before the price increases. However, JFE Bars & Shapes rejects the excess order to maintain supply and demand balance.

JFE Bars & Shapes reduced the workforce at two plants in Hyogo and Ibaraki, which manufacture section steel and flat bar in February to meet the operation level to low demand.