Rebar Market Price Increases to 60,000 yen/t in Osaka

Tokyo Steel Manufacturing increased the selling price for spot users by 2,000 yen per tonne. The price increased to 63,000 yen for rebar and 77,000 yen for H-beam and plate.

Concrete reinforcing steel bar market price increased by 5,000 yen to 60,000 yen per tonne for direct shipment from makers to users around Osaka for the first time in 5 months. The dealers try to pass the higher cost price to reselling price when rebar makers significantly increased the price. The price would increase more.

Rebar market price had been decreasing since July and the price declined to less than 50,000 yen per tonne. However, ferrous scrap price rebounded in October and electric furnace steel makers announced price hike. Despite the slow demand, the dealers tried to increase the reselling price and the market price slightly increased in December. The users plan to increase the reselling price more expecting the makers increase the selling price again while the demand remains low in January. The dealers aim to increase the reselling price to 65,000 yen.