|  | 26/07/2004 |
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Steel bar market to rise furthermore
Steel bar market in East-West Japan is likely to rise furthermore due to a rebound of ferrous scrap price. Makers continued to hike the price while it kept flat in April-June. Distributors increase a quotation in order to acquire brokerage. Supply and demand is expected to get tighter because of production cutback by makers in summer season. The market start to increase by the effect of material anticipation and current supply and demand situation, and it seems to be 60,000 yen for base size in August.
Ferrous scrap price in Kanto area jumped back from the second half of June, and rose by 5,500 yen from the previous month to 23,000 yen. So, steel bar market boost by 1,000 yen per tonne in the previous week, it eyes above 59,000 yen for base size.
Distributors need to improve a contract price since cost price is getting higher.
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 | Steel bar market to rise furthermore
| | Japan's Import and Export to Increase in the first half of 2004
| | Ferrous Scrap to Increase More, Japanese Steel Officials
| | JFE Engineering to take a stake in Changzhou Lucky Environmental Protection Equipment Engineering
| | POSCO to Expand Coke Production Capacity
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