Japan Rebar Export Price Rises to US$ 630 to South Korea

Japanese rebar export price is rising to FOB US$ 630 per tonne to South Korea for May-June shipment and the highest price reaches US$ 650. The export price increased by over US$ 130 or 26% from the bottom in last autumn when the demand for building construction is steady in Asia and yen exchange rate is weakening.

Billet export price made by Japanese electric furnace steel makers also increased by over US$ 200 per tonne or 51% from the bottom price. The current contract price is US$ 595 to Vietnam for April shipment. Asian market prices are rising for rebar and billet. Japanese export price would follow the uptrend for a while.

Hyundai Steel, South Korean rebar maker currently contracted rebar export price at US$ 660 to Asia and US$ 670 to Middle East. Japanese rebar makers are raising the offer price of rebar to FOB US$ 700 due to rising ferrous scrap price.

Offshore importers bid Japanese billet at around FOB US$ 600 but Japanese rebar makers offer export price at US$ 640 for May shipping. Japanese rebar makers will select orders when Japanese ferrous scrap price is increasing to 40,000 yen per tonne for H2 grade.