Japan Rebar Output Rises by 8% in F2006

Concrete reinforcing steel bar output increased by 8% to around 3.8 million tonnes around Tokyo in fiscal 2006 ended March 2007 from fiscal 2005. The output was the highest level in 5 years due to firm demand for condominium and office building. Local rebar makers keep 3-4 months of order backlog. The output is expected to be same level in fiscal 2007 as fiscal 2006. The output gradually increased to 3.6 million tonnes around Tokyo in fiscal 2005 from 3.5 million tonnes in fiscal 2004 and 3.4 million tonnes in fiscal 2003 after drop from 3.7 million tonnes in fiscal 2002. Local rebar shipment increased by 3% to around 910,000 tonnes in January-March from same period of last year despite of renewal works for rolling mill by Godo Steel’s Funabashi plant. Local shipment was around 310,000 tonnes in March, which was 3 higher than February and 10% higher than a year earlier.