Tokyo D-Bar Steel Raises Rebar by 3,000 Yen/t in August

Tokyo D-Bar Steel, a rebar sales company co-operated by Godo steel and Tokyo Tekko, is expected to raise rebar selling price for August contracts. This is the the first price hike in late 13 months. Domestic electric furnace steel makers may get into the monthly red due to rising ferrous scrap price. Tokyo D-Bar Steel already announced the price hike to large dealers and rebar processers around Tokyo. The firm seems to raise the price by over 3,000 yen per tonne.

Rebar market price is 59,000 yen per tonne for direct shipment transaction from makers to users around Tokyo, and 66,000 yen per tonne at the dealers’ inventory sales. Both prices decreased by 50% from 113,000 yen in last summer. On the other hand, ferrous scrap price hit the bottom at 16,500 yen per tonne in March and increased to 26,000 yen currently.

Tokyo D-Bar Steel will improve the profit by the price hike when ferrous scrap price is expected to keep strong tone. Other rebar makers are likely to raise the selling price, too.