May 17, 2008

Higher yen rate suffers Japan electric furnaces

JMB reported that Japanese electric furnace carbon steel makers' profitability are suffering from higher yen rate along with higher cost for ferrous scrap and materials and have stopped export offer of products and billet under higher yen rate.

As per report the concrete reinforcing steel bar makers are estimated to lose around JPY 15,000 per tonne due to lower shipping price and higher cost.