Firm Rebar Price around Tokyo

Concrete reinforcing steel bar price is increasing at around 58,000 yen per tonne for base size with 19 millimeters of diameter around Tokyo. The smaller sized price is 1,000 yen higher for 13 mm products and 3,000 yen higher for 10 mm than base size. The demand is expected to keep firm after building start increased by 9% to 3.68 million square meters for reinforced concrete structure building in March from a year earlier. The demand is expected to keep firm in April-June though the transaction is slow just after a week long holiday. Local rebar makers increase the selling price by 1,000 yen per tonne in May under the better supply balance to cover higher cost of electricity, ferroalloy, subsidiary materials and freight. The distributors also try to increase the reselling price due to makers’ hike for the first time in one and half years. The market price is likely to keep increasing under the firm demand.