Japanese mini mills foresee improved longs market
According to the official announcement made by the Non-Integrated Steel Producers' Association in
Japan, the long product prices during July and August are expected to improve due to the seasonal output reduction and electricity shortage.
The producers have put an end to the declining price levels of rebars, flat bars and sections by voluntarily reducing their
production.
Meanwhile, the Japanese supply of reinforcing bars into South
Korea will continue for a while as per the talks between the officials of to countries.
Korea at the moment fails to meet the domestic demand and with the help of Japanese supply the social capital improvement continues. The Korean demand for Japanese rebars is expected to last until September, and weaken thereafter.