Strong Rebar Price in Tokyo

Concrete reinforcing steel bar market price is strong to 70,000 yen per tonne for base size with 19 millimeters diameter around Tokyo due to expectation of demand recovery. New business negotiation and dealers’ shipment is slow due to the revision of the building standards. Large dealer source said the demand is firm and the building projects would increase after autumn. The shipment in August decreased to around 280,000 tonnes due to seasonal reason. Large dealer said the shipment is expected to recover to around 300,000 tonnes in September. Building projects is expected to realize for October-November. The shipment is expected to recover to 320,000-330,000 tonnes. The transaction increases after mid-August holidays. The market is likely to keep firm when the supply is expected to get tighter with more purchase for major building projects after summer. The market price keeps at 70,000 yen per tonne. Electric furnace makers and dealers keeps strong stance.

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