Japan’s Kyoei up Jun rebar price by $19/t to rescue market

As part of the efforts to rescue the domestic rebar price from softening, Kyoei Steel, Japan’s largest rebar producer, took an emergency action on May 28, announcing to overwrite its earlier decision and raise its rebar list prices by Yen 2,000/tonne ($19/t) for all its three plants and a subsidiary, effective June 1.

Osaka-based Kyoeiwith electric arc furnacesusually announces its price policymonthly and the June pricing policy was already released onMay 19for a roll-over other than a Yen 2,000/t increase for rebar produced from itsYamaguchi in westernJapan, and the latest price rise applies to theYamaguchiworks too. A company official confirmed thatthis was the