Firm Rebar Price in Tokyo

Concrete reinforcing steel bar market price is firm at around 98,000 yen per tonne for direct shipment from makers to users and at around 101,000 yen for inventory sales by dealers for base size with 19 millimeters diameter around Tokyo. The inventory sales price hit 100,000 yen last week when the dealers try to pass higher cost price on the market. The dealers seek higher price when the makers still try to find timing for additional hike. Local rebar makers seek 100,000 yen per tonne of selling price for April order to cover higher cost for raw materials and energy. They increased the price by total 30,000 yen from the beginning of the year. The dealers try to increase the reselling price to 105,000 yen per tonne level for inventory sales. The demand is still low level due to aftermath of confusion caused by new building standard law. The makers try to adjust the production volume to meet the lower demand. A rebar maker source said the demand could recover normal level as early as the summer. The supply side pressure could support the firm market under slower demand.