Rebar Price Hits 7-Month High in Tokyo

Japanese concrete reinforcing steel bar market price hit 7 months high around Tokyo. The price increased by 1,000 yen to 65,000 yen per tonne for direct shipment from makers to users from the level earlier the week. Rebar makers and dealers are gradually increasing the selling price while the demand temporarily decreases.

The makers aim to increase the selling price to 70,000 yen per tonne to return the profitability. The makers’ current shipping price is around FOB 60,000 yen per tonne. The makers lose the money at more than 10,000 yen per tonne when ferrous scrap cost is more than 35,000 yen.

Section steel market price is peaking around Tokyo. The dealers now try to keep the price level under slower demand while the steel makers increased the price aggressively.

H-beam market price is 83,000 yen per tonne for base size. The dealers are reluctant to hike reselling price additionally when the demand decreases in February from January.

H-beam makers have increased the selling price since December. Tokyo Steel Manufacturing increased the price by total 11,000 yen per tonne and Nippon Steel increased the price by total around 16,000 yen during the period while the dealers’ reselling price increased only by around 10,000 yen from the bottom.

Osaka Steel and JFE Bars & Shapes are increasing section steel selling price by total 18,000 yen per tonne for January-March order. The dealers’ reselling price increased by around 12,000 yen for equal angle and channel.