Rebar Price Increases around Tokyo

Concrete reinforcing steel bar price increased by 1,000 yen to around 57,000 yen per tonne for inventory sales by the dealers around Tokyo this week. The dealers increased the reselling price when rebar makers increased the price for order in January and February. However, the demand remains low.

The market price is flat with strong tone at around 53,000 yen per tonne for direct shipment to users from makers. Major general contractors apparently hold the orders, which apparently require 150,000-200,000 tonnes of rebar. The makers are concerned about the inquiries from the users under the low demand level.

The market price had been decreasing from 59,000 yen per tonne for direct shipment and 65,000 yen for inventory sales in summer 2009 through the end of the year. The makers and the dealers are trying to increase rebar price when ferrous scrap price increased in early January. The rebar price increased slightly when the shipment increased before the hike. However, the demand remains low. It is unforeseeable if the price continues increasing.