Japan Rebar Export Price Increasing

Japanese concrete reinforcing steel export price is increasing. In summer, the price decreased to FOB 61,000 yen per tonne. In now, overseas importers increased the purchasing price for Japanese rebar by 3,000 yen per tonne despite of emergence of fewer new contracts with dealers. Chinese product price is rising rapidly due to the reduction of export tax and pushes up Asian rebar market.Japanese export price is increasing to FOB 64,000 yen per tonne for USA and to FOB 64,000-65,000 yen per tonne for South Korea. Chinese rebar price is rising to around C&F US$ 610 per tonne. Then overseas importers are increasing their offer price for Japanese products.Japanese export price increased to FOB 66,000-67,000 yen per tonne bound for USA after Japanese long holidays in May and decreased to FOB 61,000 yen due to the reduction of rebar selling price by Nucor, US large electric furnace steel maker. Japanese rebar export business negotiation is expected to start from shipments in December. There is high possibility that Japanese export price would rise more toward the end of this year.Japanese rebar makers aim the domestic selling price of 70,000 yen per tonne but the actual shipment price is 62,000-63,000 yen per tonne for base size with 19 millimeters diameter around Tokyo. The export price keeps higher than the domestic market price and may sustain the domestic market which slowed down under the influence of the revision of Japanese building standard law.