Japan's mini-mills press hard on rebar prices

Now more than usual, domestic prices of reinforcing bars in Japan are being closely tracked for signs that the humble long product has the thrust to lift spot prices of all construction steel prices. Leading makers are playing their part, but market conditions aren't cooperating, Mysteel Global notes.

In a terse statement issued on Thursday, Kyoei Steel, Japan's largest rebar producer, announced that it was "thoroughly" increasing its rebar prices by Yen 15,000/tonne ($94/t) for May, with the lowest price it will accept for base sized bars lifted to Yen 115,000/t. "Due to the tense situation in the