Strong Rebar Price in Tokyo

Concrete reinforcing steel bar price is strong at around 66,000 yen per tonne for base size with 19 millimeters diameter around Tokyo. Local rebar makers maintain strong supplying and selling stances when they have order backlogs for over 4-6 months. There are fewer new contracts with general constructors at present. Rebar makers and dealers expect they could enter into new contracts in summer. Rebar market price is expected to keep firm for a while. The order volume from general constructors has increased since the last half of March 2007. Rebar makers has order backlogs for around 4 months for thin size and for 4-6 months for large size. Makers will increase their output during long holidays in early May to reduce their order backlogs. However, the supply is expected to keep tight even after the holidays. Each maker increased their rebar selling price by 3,000 yen per tonne and set the official price at 68,000 yen per tonne in April. General constructors already finished orders for construction projects starting in June-July. Rebar wholesalers aim to raise their reselling prices to 69,000-70,000 yen per tonne.