Kyoei Steel, Japanese largest rebar maker announced on Wednesday to increase the rebar price to 55,000 yen per tonne on all Works, Hirakata, Nagoya and Yamaguchi for the sales in December. These Works will continue output reduction, which more reduce the output if the demand decreases.
The demand of rebar significantly drops for building material and civil engineering, which is expected to continue downward trend. Because dealers are contesting the sales, the market price decreased across the country. The firm stopped the sales of rebar on Hirakata Works in November, which had been maintained the market price. But, the market price drops. Consequently, the firm launched out the selling price in December. Because ferrous scrap price is increasing, the firm will raise the rebar price.Japan Steel Scrap Composite Prices (Sangyo Press)
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