Japan Rebar and Billet Export Put on Ice

Japanese rebar and billet export is put on ice. Japanese electric furnace steel makers are negative to conclude new export contracts though there are offers from South Korean importers. The reasons are that ferrous scrap price is surging and that offshore importers’ offer price is cheap. The export price keeps flat at around FOB 45,000 yen per tonne for rebars and FOB 37,000-38,000 yen per tonne for billets.

Japanese rebar export price has increased to FOB 45,000 yen before early February and downed to around FOB 40,000 yen during February-March. Rebar export price reached FOB 45,000 yen again due to upsurge of ferrous scrap price. New export contracts are decreasing when Japanese electric furnaces are conservative with ferrous scrap cost up.

Billet export price has decreased to FOB 30,000-32,000 yen after Chinese New Year Holidays in early February and rebounded to 35,000 yen in March. The price is FOB 37,000-38,000 yen currently. New export negotiations might slow down more if ferrous scrap continues rising.