Rebar Price Keeps Flat in Tokyo

The market price of concrete reinforcing steel bar keeps flat at around 70,000 yen per tonne for base size with 19 millimeters diameter around Tokyo. Rebar demand maintains slow and the dealers cannot make actual contracts with the users. Rebar makers are expected to raise their selling prices soon after Tokyo Steel Manufacturing, Japanese largest electric furnace steel maker. General contractors seem to accept the makers’ hike. The market price could turn upward.Rebar makers’ shipping prices are rising to around 66,000 yen per tonne, though their profitability is impacted by higher ferrous scrap price. The makers would try to pass higher material costs on their rebar selling prices to improve their profits. Rebar makers are negative to make contacts at present but are expected to show strong selling stances soon.