Firm Rebar Price in Tokyo

Market price of concrete reinforcing steel bar is around 58,000 yen per tonne for base size product with 19 millimeters diameter around Tokyo. The price is 1,000 yen higher for product with 13 mm and 3,000 yen higher for product with 10 mm than base size. The demand is still firm for condominium construction mainly in Tokyo and Kanagawa. Local electric furnace steel makers apparently increased the rebar output including export to 300,000-310,000 tonnes in March from 290,000 tonnes in January and 280,000 tonnes in February. The market price was decreasing temporally in February due to lower demand. However, local makers managed to get through the slower demand season of January-March by reducing the output to the level of actual demand. The construction demand is firm around Tokyo. The demand is expected to increase in April-June. A distributor source expects general contractors will increase the order after a week-long holiday in early May. The market price is likely to keep firm when local makers and distributors try to keep the selling price.