Market prices of architectural steel materials are increasing around Tokyo this week. Distributors’ reselling price is surging by 1,000 yen to 72,000 yen per tonne for equal angle steel. Shape steel market price rebounded for the first time in a year. Distributors are offering 73,000 yen and the market price is expected to keep upward. Market price of concrete reinforcing steel bar is reaching 59,000-60,000 yen per tonne this week at makers’ direct delivery to general contractors. The price would continue gradual upsurge despite of low demand.The main reason is that steel makers are raising the selling prices of architectural materials for August-September shipment to reflect high costs for ferrous scrap and substantial materials. As to shape steels, the makers raised their selling price by total 8,000 yen per tonne for August-September contracts. Distributors are offering 73,000-yen reselling price along the makers’ hike. In September, distributors will announce additional hike by total 5,000 yen. Rebar makers raised their selling price by 3,000 yen per tonne for August contracts when electric furnace steel makers pay more than 30,000 yen per tonne for ferrous scrap purchase. General contractors are approving 60,000-yen price level. Oji Steel, Japanese top maker of flat bar, announced on Wednesday the firm raises the selling price of flat bar and square bar by 8,000 yen per tonne for September contracts. This is the first price hike since August 2008. Rebar sales companies, Tokyo D-Bar Steel and Tohoku D-Bar Steel, announced on Wednesday to raise the selling price by 5,000 yen per tonne for September contracts. Other rebar makers, including Yamaguchi Kogyo and Mitsuboshi Metal Industry, also raise the selling price by 5,000 yen.
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