Rebar Price Keeps Flat in Tokyo

The market price of concrete reinforcing steel bar keeps flat at around 58,000 yen per tonne for products with 19 millimeters diameter in Tokyo. The price is sustained by makers’ strong stance to keep their rebar output and sales at the demand level. Makers and dealers try to keep the selling price under the lower demand condition before the demand season after April. Rebar shipment became slower in and after February due to the delay of building construction authorization. However, most dealers and distributors expect the shipment could recover soon entering the demand season in April. Rebar makers continue to keep their output and sales volume at the demand level. The market price is likely to keep the level stably.Makers aim enough profits to cover the surging costs for ferrous scrap and secondary materials. Rebar demand and shipment are active for standard sized products and likely to increase for small sized products next, when makers keep their output to the level of the market demand.