Japan Rebar and Billet Export Prices Continue Lowering

Japanese rebar and billet export prices continue to lower along price down of ferrous scrap. Rebar export price is FOB US$ 500-510 per tonne and billet export price is FOB US$ 455-465 per tonne for November shipment, down by US$ 20-30 from September-October shipment. Ferrous scrap price is rebounding but South Korean market keeps low. These export prices are expected to maintain downward in a short term.

Ferrous scrap price decreased by 6,000-7,000 yen per tonne (over 20%) during the latest month. In South Korea, rebar market price is lowering to US$ 600-610 per tonne and importers’ inventories are increasing due to low demand for building materials. Current offer price is FOB US$ 480-490, down from the recent high price at US$ 525-535.

Japanese billet export price has gradually edged to US$ 410-420 per tonne from the recent high level at US$ 500. Meanwhile, there are billet offers from importers in Vietnam, Indonesia, Thailand or India as well as the large importers such as South Korea, China and Taiwan. Japanese rebar maker source said they wish to keep the present export price level.

US customers recently restarted rebar import while their offer price keeps low at over FOB US$ 300.

Japanese small bar export decreased by 13.1% to 27,867 tonnes in September from August, down by 45.3% by year-to-year comparison. The export for South Korea was 25,029 tonnes, down by 14.9% month-to-month and by 39.1% year-to-year. The export for Vietnam was 1,740 tonnes, up by by about 40 times month-to-month and by 20 times year-to-year.

Japanese billet export increased by 14.9% to 129,938 tonnes in September from August, up by 68.6% by year-to-year comparison. The export for Taiwan was 54,031 tonnes, up by 5.1% month-to-month. The export for South Korea was 49,494 tonnes, up by 48% month-to-month while down by 0.9% year-to-year. The export for Vietnam was 18,496 tonnes, up by 82.4% month-to-month and by about 2 times year-to-year.