Rebar Price Increasing in Tokyo

Concrete reinforcing steel bar market price is rising to 68,000 yen per tonne at trading houses’ reselling price for general contractors for base size with 19 millimeters diameter around Tokyo, up by 1,000 yen from last week. Dealers and distributors are trying to raise their reselling prices when electric furnace steel makers announced they raise the selling price to above 70,000 yen per tonne. Dealers’ reselling price surged by 1,000 yen per tonne in early May and by 1,000 yen in late May. Around Osaka, the market price is approaching 70,000 yen as well. Rebar market price keeps strong totally in Japan.Rebar makers’ profits are decreasing due to cost up for ferrous scrap, other sub materials and electric power. They aim rebar selling price at above 70,000 yen per tonne for the first time since 1979.Distributors’ reselling price is increasing to around 73,000 yen per tonne in the situation. Wholesalers will continue the price hike. Rebar demand keeps firm. The makers hold order backlogs for 4-6 months for both thin- and large-diameter rebars.