Flat Rebar Price in Tokyo

Concrete reinforcing steel bar price is flat at around 59,000 yen per tonne for base sized product with 19 millimeters diameter around Tokyo. The price is 1,000 yen higher for 13 mm product and 3,000 yen higher for 10 mm product compared with the base size. The price move is calm when rebar makers and the distributors expect the price keeps the level. A trading firm source said makers should focus the energy to keep the price level instead of seeking higher price. The makers tried to increase the selling price citing higher cost of raw materials and energy. However, the distributors resisted the move when market condition couldn’t accept the hike. The makers now apparently try to keep the price. The supply is still tight and could be tighter when the makers plan 1-2 days longer maintenance outage during the summer than last year. The makers keep 1.5-2 months of order backlog under the firm demand. General contractors increase the order to the makers recently. The demand is expected to keep firm in the year.