Godo Steel, Tokyo Tekko Hike Rebar by 10,000 yen/t

Concrete reinforcing steel bar sales joint venture of Godo Steel and Tokyo Tekko announced on Wednesday the firm increases the selling price of rebar by 10,000 yen to 110,000 yen per tonne for May order. The firm tries to cover higher cost for ferrous scrap, ferroalloy and energy through the hikes for 4 months in a row. The firm also tries to improve the contract terms including shorter delivery lead time. The firm increased the price by total 40,000 yen per tonne from February to May orders to cover higher scrap price along with subsidiary materials, electricity and freight. The firm tries to shorten the lead time from order receipt to shipment. Godo Steel accepts maximum 6 months advance order from the delivery while the firm splits order into 2 or more if the delivery takes more than 6 months. Tokyo Tekko limits the deadline up to a year depending on the individual conditions.