Rising Rebar Price in Tokyo

Concrete reinforcing steel bar price increased to 66,000 yen per tonne by 3,000 yen or 4.8% for base size with 19 millimeters diameter at traders’ selling price to general contractors in this week from last week around Tokyo. The market price increased by total 6,000 yen or 10% for 5 months after that it broke out at 60,000 yen in October 2006 in 18 months. Each local rebar markers are speeding up their selling price hike due to higher ferrous scrap price. The market price is expected to keep strong tone when large building project would be placed an order from the ended of this month. Ferrous scrap price increased to 33,000-34,000 yen per tonne by 5,000-6,000 yen or about 20% for H2 grade in this week from October 2006. Each maker’s shipping price was below at 60,000 yen per tonne. The price spread between makers’ shipping price and the material price is reducing. They raised their selling price by 2,000 yen per tonne in January order, by 3,000 yen in March order. The market price achieved at 66,000 yen per tonne when large dealers and other dealers passed increased purchasing price on their selling price.