Rebar Price Pierces 100,000 yen/t in Tokyo

Concrete reinforcing steel bar market price around Tokyo hit 100,000 yen per tonne for base sized products of direct shipment from the makers to users and 105,000 yen for inventory sales by the dealers. Large and small dealers raised the reselling prices to reflect makers’ price hike. Makers will more raise the selling price due to rising material price such as ferrous scrap. The market price is expected to exceed 110,000 yen per tonne.The market price has soared by over 30,000 yen per tonne since the beginning of this year. A major dealer source said dealers want to raise the reselling price to 103,000 yen per tonne for base sizes for direct shipment from the makers to users and to 108,000 yen for inventory sales by themselves when makers increased the selling price to over 100,000 yen per tonne for April-May.The demand for rebars keeps slow in the confusion caused by the revision of Japanese building standard law. On the other hand, material costs continue surging.