Tohoku’s Rebar Makers to Offer 65,000 yen in January

Sendai based cooperative sales company between Japanese electric furnace steel makers, Itoh Iron & Steel and Tokyo Tekko, increased concrete reinforcing steel bar price to 60,000 yen per tonne from the order in second half of December. The sales force increases the price to 65,000 yen from January order to cover higher ferrous scrap cost.

Rebar demand is increasing around Tokyo and the inquiries increased for small and medium size residential and nonresidential building. The supply becomes tight for small size product.

Itoh Iron & Steel and Tokyo Tekko reduced the shift due to the inventory adjustment. They are almost in full capacity operation now and they supply the product to their plants around Tokyo. The supply would become tighter around Sendai in early 2011. They aim to increase the price in December and January to keep stable supply.