Flat Rebar Price in Tokyo

Market price of concrete reinforcing steel bar is flat at around 58,000 yen per tonne for base size with 19 millimeters diameter in Tokyo. The extra price remains 1,000 yen higher for product with 13 mm diameter and 3,000 yen for product with 10 mm diameter than base size. Local electric furnace steel makers are confident to keep the selling price by reducing the output in the level of demand after the experience in January-March. The makers expect higher demand in and after May when general contractors increase the order after March.General contractors apparently increased the rebar order to local makers by around 10% to more than 300,000 tonnes in March from February. The demand level is in line with usual March despite of some delay due to deception of earthquake resistance strength.Local steel makers were expected to increase the rebar output by around 10% to 300,000-310,000 tonnes in March from February due to higher demand. Some makers increase the export to reduce domestic shipment.The demand is expected to firm. Building start of reinforced concrete building increased to 3.86 million square meters in February, which was up by 19.4% from January and by 17.4% from a year earlier, according to Ministry of Land, Infrastructure and Transport.