Japan Rebar and Billet Export Prices Turn Downward

Japanese export price of concrete reinforcing steel bar and billet is turning downward. There come orders from South Korea and other countries but the offer price is currently declining by $ 10-20 per tonne. Japanese rebar export price is below FOB $ 500 per tonne and billet export price is around C&F $ 420-430 per tonne for June shipment.

Rebar orders for public engineering works in South Korea settled down after April-May. In addition, South Korean rebar importers recently point out the gap between Japanese export price and Japanese domestic price. Consequently the export price became below FOB $ 500 per tonne. South Korean importers request additional price cut by about $ 30. Japanese electric furnace steel makers are afraid of loss and negative to conclude new export contracts.

Japanese billet export price currently reached C&F $ 440 per tonne. However, the price turned downward after Japanese integrated steel makers concluded large-lot export contracts at around $ 320-330 and cheaper billets from Russia flew into the market. Japanese integrated steels recently raised their export offer price to above $ 435. Some makers are likely to refrain from export in July.

There are rebar and billet orders from Vietnam and other countries as well as South Korea. The export market seems to bottom out. However, the demand still maintains slow and the market price is confused by export concentration.