Rebar Price Keeps Firm in Tokyo

Concrete reinforcing steel bar market price is firm at 66,000 yen per tonne for base size with 19 millimeter of diameter around Tokyo. The price is likely to keep the level due to slower demand under transitional phase to revised earthquake resistance standard though the distributors try to lift the price to 69,000-70,000 yen per tonne. The users would increase the purchase volume in the summer.

Local rebar demand keeps firm and local rebar makers keep 4 months order backlog for base sizes and 4-6 months backlog for smaller sizes. The temporally slower demand due to new earthquake standard could have little impact on the market price. An official of rebar maker said the actual demand is firm and the maker tries to keep the appropriate level of production and sales to meet the demand level.

The local makers increased the rebar selling price by 3,000 yen to 68,000 yen per tonne for April order. The market didn’t accept the hike yet when the buyers of general contractors reduce the purchase volume. The makers try to keep the supply and sales balance to avoid oversupply and to ship for existing order.