Japan Billet, Rebar Export Price Rises

Japanese electric furnace steel makers’ billet export price increased by about US$ 20 to C&F US$ 470 per tonne to South Korea for September shipment from the recent low transaction price. The inquiries from South Korea and Southeast Asian countries are increasing. Japanese electric furnace steels increase the offer price to C&F US$ 500 for Russia. The export price of concrete reinforcing bar is likely to increase when ferrous scrap price is increasing.

Japanese export price of billet increased due to rising cost of ferrous scrap and the overseas demand increase in construction as the result of stimulus package. The export price to Taiwan has increased to C&F US$ 490 per tonne.

The rebar export price to South Korea is about FOB US$ 480 per tonne for August shipment. Japanese electric furnace steels aim to increase the price by US$ 30 for September shipment when ferrous scrap price is increasing.

However, importers in Taiwan seek delivered US$ 430 per tonne, which is equivalent to FOB US$ 380 per tonne. Japanese steel makers are reluctant to get the order due to the less attracting price.