Rebar Price Keeps Flat under Slow Shipment

Market price of concrete reinforcing steel bar keeps flat at around 58,000 yen per tonne in Tokyo for 19 millimeters diameter. The transaction became slower in February. Most dealers consider the slowdown is contemporary and the rebar shipment would recover in early spring when makers keep producing the products at the level of demand. The market price seems to maintain the present level for a while.Rebar shipment is slow for every building construction from small- to large-scaled. A distributor source pointed out the slower shipment is due to the problem of building safety fraud in Japan. The process of building start authorization takes 1-2 months recently, which took 2-3 weeks before. Demand increased to 2.5 times for inspection certificate of steel products around Tokyo area. The slower procedure reduces immediate demand for rebar.Trading houses and distributors are not concerned with less shipment but confident of good rebar demand for building construction around the capital. Makers and dealers aim to keep the present rebar price. The market price is likely to maintain flat for a while. Most players expect the price could turn upward in early spring, when ferrous scrap price rebounded.