Firm Rebar Price in Tokyo

Concrete reinforcing steel bar market price is firm at 68,000 yen per tonne for base size with 19 millimeters diameter around Tokyo. The market is calm with lower order volume and shipment. Local rebar makers try to seek 70,000 yen per tonne of selling price. However, the market could accept the higher price only in summer with higher demand. An official of local rebar maker said the demand is temporally slow but the suppliers keep the cool stance. Local makers keep the stance to produce and sell in the demand level. They try to increase the selling price to cover higher ferroalloy and other cost along with the ferrous scrap. The demand is firm and local makers keep 4-5 months of order backlog. The supply keeps tight since the spring. A trading firm source said the delivery could get tighter in summer when large building projects will start. The market price could keep firm under strong demand.