Weak Rebar Price in Tokyo

Concrete reinforcing steel bar market price is expected to keep the level at 113,000 yen per tonne for base size both for direct shipment from makers to users and dealers’ inventory sales around Tokyo. The makers keep the 115,000 yen of list price but the market price could decrease in the month under slower demand and lower ferrous scrap price. The buyers of general contractors seek lower rebar offer when scrap price dropped by more than 30,000 yen per tonne since July. The makers try to keep the rebar selling price when they expect the scrap price would rebound. The suppliers and buyers failed to reach agreement for regular price negotiation. The makers order receipt is expected to decrease in August from July when the traders see the order receipt is 150,000-230,000 tonnes in August compared with 235,000 tonnes in July. The buyers try to wait the price down with limited purchase for immediate use.