Weak Rebar Price in Tokyo

The market price of concrete reinforcing steel bar is weak tone at 80,000 yen per tonne for base size with 19 millimeters diameter around Tokyo. Tokyo Steel Manufacturing, Japanese biggest electric furnace maker raised the selling price to 57,000 yen by 3,000 yen per tonne for the contract in February, but there is greatly deferent between the firm’s price and the market price. Some dealers are selling it at 78,000 yen per tonne. The market price is likely to drop in near future.

Rebar makers’ output decreased by 25% in December from November around Tokyo. Their acceptance of order keeps same low level in January from December and their outstanding construct amount decreased to about 2.5 months. Each general contractor is holding conservative buying.

Some dealer got the order in recent days, but other dealer analyzes the order run late due to New Year vacation. There is possible the market price hit the bottom when Tokyo Steel Manufacturing raised the selling price by total 5,000 yen per tonne in January and February order. Many dealer sources said downward trend becomes slow compared with last month. However, users’ pressure for price cut is enhancing when adjournment or cancellation of building construction plan is increasing.