Rebar Price Keeps Flat in Tokyo

The market price of concrete reinforcing steel bar keeps flat at around 58,000 yen per tonne for standard sized products with 19 millimeters diameter in Tokyo. The extra charge also maintains flat at 1,000 yen for small sized products with 13 millimeters diameter and 3,000 yen for 10 millimeters. Rebar demand and shipment are active in the region and local makers are increasing their output.Monthly rebar production in Tokyo area increased by 4.2% to 310,000 tonnes including exports in March from a year ago. Rebar demand has recovered after the production was 290,000 tonnes in January and 280,000 tonnes in February. Rebar shipment in March increased by 4.6% to 330,000 tonnes from a year earlier and the total stocks at electric furnaces decreased by 8.7% to 120,000 tonnes from February.Rebar price is likely to keep steady when demand increases seasonally in April-June. Dealers expect orders would rush from general constructors after the holiday period at the beginning of May. Both makers and dealers maintain strong sales position. The market price is unlikely to decline for a while.