Flat Rebar Price in Tokyo

Concrete reinforcing steel bar market price is flat at around 70,000 yen per tonne for base size with 19 millimeters diameter around Tokyo. The demand for building construction is slow. Dealer source said there is gradual shipment but new order negotiations are few. Dealers are shipping rebar from their stocks rather than by makers’ direct shipment to users.New building construction area decreased by 66.2% for reinforced concrete structures in Japan in September compared with the same month of last year while downed by 40.1% for steel-reinforced concrete structures. The rebar demand is expected to keep low level for a while.Ferrous scrap market price is weak. The price isn’t prospected to continue weak trend for a long term since scrap price would rise toward winter in usual years. Steel makers should take sales strategies with an expectation that material price would surge up. However, dealers are facing difficulty to raise the reselling price due to slower demand influenced by new Japanese building standard law.