Slowing Japan Rebar, Billet Export

Japanese concrete reinforcing steel bar and billet export decreases. The inquiries from the buyers in South Korea decreases and Japanese electric arc furnace steel makers are reluctant to export due to the increase in ferrous scrap price. The export price move is limited recently while the export price increased by around 15% or US$ 70-80 per tonne for rebar and by US$ 100-120 for billet from the bottom in fall 2009.

Japanese rebar export price was slightly less than FOB US$ 500 per tonne to South Korea at the end of 2009 and the price increased to US$ 550 for February shipment while the price is US$ 570-580 for March shipment. However, rebar demand is slow in South Korea and the inventory held by makers and dealers stays at high level.

Japanese electric furnaces receive few inquiries for billet export. The price increased to FOB US$ 500 per tonne for shipment in February and March from slightly less than US$ 400 at the end of 2009. The buyers in South Korea significantly decrease the import.

Japanese electric furnaces pay 32,000-33,000 yen per tonne for H2 grade scrap around Tokyo and ferrous scrap price would increase more. The electric furnaces plan to decrease the export due to the low bid by the users in South Korea.