Firm Rebar Price in Tokyo

Concrete reinforcing steel bar market price is firm at 68,000 yen per tonne for base size with 19 millimeters diameter around Tokyo. The transaction is temporally slow with slower order. However, the market price could reach 70,000 yen when the demand is expected to keep firm. With higher cost for raw materials and freight, local rebar makers try to increase the selling price to 70,000 yen per tonne level for the first time since 1979. General contractors’ order is delay due to revision of building standard low effective on June 20. However, the market mood keeps firm with expectation for higher demand. The supply could get tight when local makers plan longer maintenance outage in the summer due to renewal works for old facilities. An official of maker said local makers try to keep the delivery schedule when they already have large amount of order backlog. With the firm demand and tighter supply, the market price could keep firm.