Japan Steel Billet Export Price Rebounds

Japanese electric furnace steel makers’ billet export price turned into increase again due to higher ferrous scrap market. The price increased by 5,000-6,000 yen per tonne or 18% from recent bottom in late February. The concrete reinforcing steel bar export price is still low level. A maker source said the firm cannot make money unless the export price would increase to 45,000 yen per tonne.

The billet export price increases to FOB 36,000-37,000 yen per tonne in recent price talk while the price hit 30,000-32,000 yen in late February. The price increases when Russian and Turkish makers increase the offer while they reduced the market with cheaper offer before.

Japanese rebar export price is FOB 40,000 yen per tonne when South Korean buyers show less appetite. Japanese makers wait and see the market when ferrous scrap started to increase recently.