Weak Rebar Price in Tokyo, Osaka

Concrete reinforcing steel bar market price would decrease from 60,000-61,000 yen per tonne for direct shipment from makers to users around Tokyo. The price is also weak at around 60,000 yen around Osaka. The price would decrease when Tokyo Steel Manufacturing reduce the steel selling price by 5,000 yen under lower ferrous scrap price.

Local electric furnaces’ rebar inventory apparently decreases around Tokyo and Local fabricators’ operation rate has begun to increase. Condominium construction would increase around Osaka. However, general contractors’ bid price is less than 60,000 yen per tonne around Osaka and Tokyo. Some dealers around Osaka apparently reduced the price to meet users’ requirement while makers try to keep selling price around Osaka and Tokyo. The makers around Tokyo would not reduce the selling price when they secured certain order backlog.