Kyoei Steel Suspends Rebar Price Announcement for April

Kyoei Steel, Japanese largest rebar maker, announced on Thursday the firm doesn’t announce the selling price of rebar for April contracts. The firm judged the price announcement might stimulate the market confusion when rebar market situations are different among regions and customers. The firm keeps output reduction by 50% and reduces the sales volume in April.

General contractors are strongly requesting the price cut to rebar makers. Some dealers largely decreased the reselling price. On the other hand, general contractors seem increasing the orders and dealers’ shipment shows a recovering sign. The inventory adjustment by makers and dealers almost finished thanks to the makers’ output reductions.