Kyoei Steel lifts rebar prices by $37/t for March sales

After rolling over its domestic prices for the past two months, Osaka-based mini-mill Kyoei Steel, Japan's largest rebar producer, is adding Yen 5,000/tonne ($37/t) to its domestic prices of rebars for March sales to offset rising costs, the company announced on Tuesday. Kyoei had lifted its rebar prices by the same Yen 5,000/t for December sales, as Mysteel Global reported.

"Last year, the floor area of new starts on reinforced concrete construction increased by about 12% compared to the previous year, (while currently) inquiries for development projects and for large-scale logistics warehouses are steady," Kyoei said in a statement. "On the other hand, the market for scrap, which is