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Japanese electric furnace steelmaker Kyoei Steel announced that it will raise the ex-factory price of rebar at all of its plants starting in November, with a month-on-month increase of 2,000 yen (approximately $13) per ton. B20R080 GO Silicon steel sheets, This price adjustment is mainly due to the continuous increase in costs for raw materials, electricity, labor, and transportation.
According to foreign media reports, the recent significant increase in raw material and fixed costs, coupled with weak domestic demand for construction steel in Japan, has further squeezed the profits of steel companies. B20R080 GO Silicon steel sheets, The company last raised prices due to cost factors in September of this year, increasing them by 5,000 yen per ton.
In comparison, the price trends of major Chinese steel mills have remained relatively stable recently. In late October, Shagang announced that the base price of HRB400 rebar would remain at 3450 yuan per ton (approximately US$486), while Zenith Steel and Yonggang Steel lowered their prices by 50 yuan/ton to 3350 yuan/ton and 3400 yuan/ton, respectively.
Analysts point out that against the backdrop of weak global demand for construction steel, Japanese electric arc furnace manufacturers are mainly using price adjustments to mitigate some of the pressure from energy and raw material costs. B20R080 GO Silicon steel sheets, Meanwhile, rebar price spreads in the East Asian region will continue to be influenced by exchange rates and the pace of cost pass-through.
