Flat Rebar Price in Tokyo

Concrete reinforcing steel bar market price is flat at around 70,000 yen per tonne for base size with 16-19 millimeters diameter around Tokyo. The transaction is slow due to very slow demand for building while the makers announced price hike for October order. The price is likely to keep the level with support by cost price. General contractors’ order is very low when building start drops sharply due to stricter new building standard law. The makers still keeps 3.5-4 months order backlog but the fewer new order shadows on the coming slower demand season. The building start increases gradually recently. However, the very low new order is expected to continue for a while. Local rebar makers’ shipment decreased by 11% for base size makers and by 1% for smaller size makers in October from a year earlier. The shipment is likely to decrease in November and December. The makers try to keep the selling price by reducing output by 10-20%.