Strong Rebar Price in Tokyo

Concrete reinforcing steel bar market price is strong at around 70,000 yen per tonne for base size with 19 millimeters diameter around Tokyo. Rebar shipment and new business negotiation is slow when new Japanese building standard law is more making impact to the market. Rebar makers seem to reduce the output by about 20% in November from a year ago.Makers’ shipment is expected to decrease by 10-15% in October from a year ago and to expand range of reduction in November-December. Maker and dealer sources said they have few orders under the influence of the law revision. Makers will reduce the output less than the demand.Makers raised rebar selling price by 3,000 yen per tonne for October contracts. Dealers are seeking to pass increasing cost prices on their reselling prices. However, dealers’ hike doesn’t advance when new business negotiations stopped. Dealer source said the confusion by the new law must end for their price hike.