Rebar Price Hits 100,000 yen/t in Osaka

Concrete reinforcing steel bar market price around Tokyo is strong at 980,000 yen per tonne for base size for direct shipment from the makers to users and at 103,000 yen for inventory sales by the dealers. Rebar makers aim to sell over 100,000 yen per tonne, will be likely to raise the selling price in May order. Tokyo Steel Manufacturing already increased rebar price by 12,000 yen per tonne in May order. Large and small dealers are mulling to raise the selling price. Dealer source said makers’ selling price is expected to reach at 100,000 yen per tonne after long holidays in May and the market price would increase to 103,000 yen per tonne for base size for direct shipment from the makers to users and at 108,000 yen for inventory sales by the dealers. Makers increased by total 30,000 yen per tonne after the beginning of this year. But with increasing ferrous scrap, their account settlement in March 2008 looks to reduce from last year. They are continuing to raise the selling price. The demand keeps slow. Big project is much, but middle and small building construction is limited. General contractors reduced reinforcement placing price due to slow demand and rising rebar price.