Kyoei Steel gets 'serious' about raising rebar prices

Kyoei Steel, Japan's largest rebar producer, will continue to maintain its prices for rebars at all its four works nationwide for this month, the company announced on January 14. However, effective the same day, its selling price will be Yen 100,000/tonne ($633/t), it said.

"In the severe demand environment of the domestic steel market, the profit environment for manufacturers has deteriorated due to rising electricity costs, labour costs, and others, and fixed costs are increasing due to production adjustments in line with demand," Osaka-based Kyoei said in its price policy statement. "Since it