Weak Rebar Price in Tokyo

Concrete reinforcing steel bar price is weak at 113,000 yen per tonne around Tokyo for base sizes directly delivered from the makers to the users. Local dealers’ sales price is weak at 110,000 yen per tonne delivered from their inventories. General contractors keep wait-and-see stances when local rebar makers reduced the selling price due to dropped ferrous scrap price.

Users are stopping the orders to dealers. Actual demand is decreasing when building construction projects were postponed or broken off. General contractors are going to easy buying when Tokyo Steel Manufacturing reduced the rebar price to 57,000 yen per tonne or ferrous scrap price fell below 15,000 yen per tonne.

General contractors are waiting for the timing rebar makers’ selling price becomes less than 90,000 yen per tonne. A large dealer source said the gap is widening between makers’ nominal price and general contractors’ nominal price.