Since scrap prices rising, rebar prices in Japan may have bottomed, buyers are trying replenishment before price rising, inquiries increased.

Currently, SD290 rebar price in Tokyo market is about 58-59 thousand yen / tonne (USD 472-480 / ton), Osaka market price is 54-55 thousand yen / ton.

Since last week Tokyo Steel raised scrap prices two times, total rise of ¥ 1,000 / tonne, followed by other small mills have raised their scrap buying prices, currently No. 2 heavy scrap average purchase price is 26000--26500 yen / ton.

                                                                                                  XINSTEEL NEWS