Firm Rebar Market in Tokyo

Concrete reinforcing steel bar market price is firm at 70,000 yen per tonne for base size with 19 millimeters diameters around Tokyo. The price could keep firm when the demand improves gradually toward the peak season and the makers try to increase the selling price to 70,000 yen level. The local makers’ shipment decreased by 10% to around 280,000 tonnes in August from July due to seasonal slower demand. The shipment was around 7% lower than a year earlier due to slow demand under renewal process of building standard law. The August shipment, which is seasonally lower every year, decreased widely when the local makers expanded the seasonal maintenance outage. The buyers of general contractors reduced the order to the makers due to delay for building construction under renewals process of building law. A trading firm source said major building projects would start in later the year and could increase the rebar demand. The local makers with order backlog enough to keep the operations keep trying to increase the price. The dealers try to pass the higher cost price on the reselling price.