Tokyo’s Rebar Makers to Target 70,000 yen/t Again

Concrete reinforcing steel bar market price is flat at around 61,000 yen per tonne for direct shipment from the makers to the users around Tokyo. The price increased to 67,000 yen in May from 58,000 yen in the beginning of the year to reflect higher ferrous scrap cost. The makers try to increase the price to 70,000 yen. However, the buyers didn’t accept the higher price under decreasing ferrous scrap price.

The rebar makers around Tokyo tried to increase the selling price to 70,000 yen per tonne in spring when ferrous scrap price increased to around 35,000 yen from around 25,000 yen in the beginning of the year. However, the makers could not realize 70,000 yen level when the demand decreased after the major earthquake in March.

The makers’ order receipt increased to more than 210,000 tonnes in July from around 150,000 tonnes per month through June. The makers try to realize higher selling price when ferrous scrap price would increase in and after October mainly due to higher scrap purchase volume by domestic integrated steel makers.