Rebar Price Ups 2,000 yen/t in Tokyo

Concrete reinforcing steel bar market price increased by 2,000 yen to 105,000 yen per tonne for direct shipment from makers to users since last week. The price is lifted by pressure from the makers hike while the price is flat at 107,000 yen for inventory sales by the dealers. The market could keep the trend with supply side pressure despite of the slow demand. The dealers try to increase the reselling price to 110,000 yen per tonne level when the makers increased the selling price to 110,000 yen. The inventory dealers also try to increase the reselling price when the inventory value keeps increasing. The demand is slow after the speculative purchase. The demand could decrease more despite of the firm major building projects when the owners and contractors revise or postpone the building plans for small- and mid-building. However, the market price is likely to keep firm when the makers try to pass extremely higher raw materials cost on the selling price as top priority.