Rebar Price Upsurge Slows Down in Tokyo

Concrete reinforcing steel bar price is strong at 113,000 yen per tonne around Tokyo for base sizes directly delivered from the makers to the users. The demand is boiling over due to abeyance of condominium building construction. Local dealers would like to raise selling price to 115,000 yen per tonne.Major real-estate company or developer became bankrupt in Tokyo. Credit impairment is beginning in earnest. Some dealers are selling it at 120,000 yen per tonne, which are selecting consumers. Ferrous scrap price dropped back slightly. But makers are in red when makers’ shipment price keeps low at around 80,000 yen per tonne yet. Many dealers forecast makers would increase selling price in August following July. Dealers will make ready makers’ additional price hike. The supply and demand is expected to be tighter when makers are reducing the output due to scheduled refinement in each summer.