Rebar Market Price Continues Downtrend, Tokyo

Market price of concrete reinforcing steel bar is around 64,000 yen per tonne for base size products directly delivered from the makers to the users and 69,000 yen per tonne at the wholesalers’ reselling price around Tokyo. The market price is lower by 1,000 yen than the previous week. There are few new orders or contracts for rebar. The market mood is especially weak after Japan Earthquake. Supply and demand balance is gradually loosing. The market price is likely to keep downtrend.

Several rebar dealers and distributors comment the demand seems weakening and worsening month by month. Large-class general contractors are in wait-and-see mood while middle- and small-class general contractors continue rebar procurement just as much as the immediate use. High-rise condominium sales are very weak. Thus rebar demand is largely declining.

Rebar makers around Tokyo are trying to sustain the selling price at 70,000 yen per tonne. However, the actual price is presently approaching 60,000 yen. Local rebar makers averagely hold order backlogs for more than 3 months but the delivery schedules currently tend to be postponed. The market price would edge downward.