Weak Rebar Price in Tokyo

Concrete reinforcing steel bar market price decreased to around 70,000 yen per tonne by 2,000 yen for direct shipment transaction from makers to users around Tokyo. Some dealers are selling at below 70,000 yen when the buyers increase the pressure for lower price due to weak demand.

Makers’ award volume is flat in March from February and some makers increased the award volume.

Users have anticipation of a fall for rebar market price when the purchase price of ferrous scrap by makers is below 18,000 yen per tonne around Tokyo. Users’ order volume isn’t expected to increase when building project for condominium is postponed or canceled in succession.

General contractors decreased the order price to around 65,000 yen per tonne when Tokyo Steel Manufacturing decreased the selling price by 3,000 yen per tonne for the contract in April.