Japan Rebar, Billet Export Resumes

Export market of concrete reinforcing steel bar and billet shows sign to recover when the buyers return to the market under the reasonable pricing. Japanese rebar export hit FOB US$ 1,080 per tonne for USA for August shipment. The price decreased to less than US$ 1,000 for South Korea for September shipment and then the buyers’ bid dropped to less than US$ 400. Japanese rebar makers started to get rebar export order at more than US$ 450 for December shipment when ferrous scrap rebounded and the buyers expect higher pricing for the steel products.

Japanese billet export price hit recently more than FOB US$ 380 per tonne for Vietnam for December order while the price decreased from the peak of SU$ 1,074 for South Korea for July and August shipment and the buyers’ bid decreased to less than US$ 300.

Chinese domestic rebar market also rebounded when the price increased to 3,950 yuan per tonne, which is 70 yuan higher than 2 weeks ago.

A trading firm source said the export market recovered from the bottom when Japanese suppliers get small lot export order from Indonesia and Thailand. However, a major rebar maker source said the export price of rebar and billet is likely not to rebound significantly when scrap market is still low level despite of the rebound.

A small sized rebar maker source said the buyers in Asia would keep the purchasing until Chinese New Year holiday while the market stops temporally during the holiday.