Weak Rebar Price around Tokyo

Concrete reinforcing steel bar market price would continue decreasing steadily from 62,000 yen per tonne for direct shipment from the makers to the users and 68,000 yen for sales from the dealers’ inventory around Tokyo. Tokyo Steel Manufacturing left rebar selling price unchanged at 59,000 yen for July order. However, the market price would not stop decreasing when condominium construction slows after the major earthquake.

Rebar makers’ order receipt decreased around Tokyo from 172,000 tonnes in March to 161,000 tonnes in April and to 112,000 tonnes in May. The order for June would be same as May.

Some dealers’ transaction price is less than 60,000 yen per tonne when price competition gets severer to get limited order. The makers try to keep the selling price at 60,000 yen or more when one major maker source sees ferrous scrap price would not decrease from current 35,000 yen level for H2 grade.