Rebar Shipment in Tokyo Estimated to Increase by 20% Y/Y for Jan-Mar

Rebar shipment volume is increasing around Tokyo. The shipment by local eleven electric furnace steel makers is expected to increase by around 20% to average 270,000 tonnes per month for January-March compared with the same period of 2011. The yearly shipment would increase by about 15% to 3.1 million tonnes for fiscal 2011 ending in March 2012 against the previous fiscal year.

There are steady orders for rebar around Tokyo, used for condominiums and residential foundations. In the first half of fiscal 2011, some of local electric furnaces undertook alternate production for other electric furnaces in Tohoku area those who were downed by the Great East Japan Earthquake.

The local shipment increased by around 20% to average 290,000 tonnes per month for October-December from the same period of 2010. The monthly shipment jumped to 300,000 tonnes in October due to delivery intention for general contractors and other rebar users while downturned to year-to-year minus in November. In December, the users decreased new orders since ferrous scrap market price weakened. The shipment decreased from November.

The shipment was estimated to decrease in January over the previous month while to increase by about 50,000 tonnes to 260,000 tonnes from a year earlier. Local electric furnaces expect the shipment keeps the same level in February from January and slightly rebounds in March.

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