Market price of concrete reinforcing steel bar is slightly increasing around Tokyo this week. The price upped by 1,000 yen to around 58,000 yen per tonne from previous week for base sized products directly delivered from makers to users. Rebar demand maintains weak. However, rebar makers and dealers are trying to raise the price when ferrous scrap price is surging. Rebar suppliers aim the market price at 60,000 yen or more.
Rebar dealers’ reselling price also increased by 1,000 yen to 62,000 yen per tonne. Dealers are raising the price step by step mainly for small-lot and short-time deliveries though the demand and shipment are slow. One rebar dealer said they try to increase the reselling price since rebar makers are likely to launch additional price hike. Local rebar market price rebounded from the recent bottom at 56,000 yen within August. Meanwhile, ferrous scrap price is surging more rapidly and approaching 32,000 yen per tonne. Rebar makers are willing to penetrate the price hike as soon as possible because the actual shipment price doesn’t increase immediately.Japan Steel Scrap Composite Prices (Sangyo Press)
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