Rebar Price to Increase in Tokyo, Osaka

Concrete reinforcing steel bar market price is increasing in Tokyo and Osaka. The users are increasing the purchasing volume around Tokyo with expectation for higher price when the makers try to increase rebar price. The higher price around Tokyo would lift market price around Osaka.

The market price increased by 1,000 yen to 59,000 yen per tonne for direct shipment to the users from the makers around Tokyo. The price is flat at around 57,000 yen around Osaka while the sellers try to improve the price level.

The price increased around Tokyo for the first time since May 2011. The price would increase more when the makers try to reflect higher ferrous scrap and electric power cost to the selling price. Local makers’ order receipt was 320,000 tonnes in March. The order was around 50,000 tonnes higher than the level in February. Some dealers’ transaction price is less than 55,000 yen around Osaka but one dealer sees the dealers try to increase the price level after the makers announced price hike for April.