Posted on 21 Nov 2024
Japanese producer Kyoei Steel has announced it will keep rebar base prices unchanged for sale in December at all its business locations, Kallanish notes.
This is the sixth consecutive month that the company has adopted this pricing strategy.
The company said that in the domestic market, both contracts and shipments have gradually recovered since reaching a low in August during the hot summer.
However, due to the soaring material prices and construction delays caused by labour shortages, it will take time for steel demand to recover.
For future operations, Kyoei Steel will shut down furnaces and further reduce production at the end of this year and during the New Year holidays, to ensure that production and demand match.
Source:Kallanish
