Kyoei Steel Keeps Rebar Prices In June Contracts

Kyoei Steel, the largest manufacturer of rebar products in Japan, announced Thursday that it will keep rebar prices unchanged for June contracts.

The company did not disclose its pricing policy, but the current market price for base size rebar in Osaka was around $ 67,000-68,000 /t ($ 611-620 /mt) unchanged a month ago, while in Tokyo it was around 73,000-74,000 yen /ton, up to 2,000 yen /ton, sources said.

Kyoei said that while higher alloy costs, electrodes, and freight costs are mostly increasing, it will maintain its prices for June. The company will monitor the market before announcing prices for July, she added.

The steelmaker last raised rebar prices by 3,000 yen /t.

A Tokyo-based construction steelmaker said rebar makers were looking at ¥ 75,000 /tonne amid higher production costs.