UTC+8 ( BJT)

Japan’s domestic rebar price may rise on higher scrap cost

ABSTRACT

Japan’s domestic rebar price, despite having been hovering at its 13-year high, may still have room for further rises as producers may raise their list prices with the surge in scrap price recently, and domestic distributors have also appeared more aggressively pushing through previous price hikes by producers, sources shared on Thursday.
As of October 14, mini-mills in Kanto area around Tokyo are paying around Yen 52,000-53,000/tonne ($458-467/t) for H2 grade scrap, up Yen 4,000/t from last Friday and Yen 6,000-7,000/t higher on month, while the SD295A 16-25mm rebar are transacted at Yen 90,000-91,000/t in Tokyo, unchanged on month, sources confirmed. A Tokyo-based distributor, for example,

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