Rebar Market Price Continues Surging to 68,000 Yen/t in Tokyo

Market price of concrete reinforcing steel bar continued to surge around Tokyo this week. The price increased by 1,000 yen to 68,000 yen per tonne for base sized products directly delivered to the users from the makers. Local rebar makers’ order receipts seemed to reach the high volume of 257,000 tonnes in April. Rebar demand is recovering mainly from constructions. A major rebar maker’s officer said some of suspended construction projects are starting and domestic rebar demand may become better than presently expected. The market price is approaching 70,000 yen.

Local rebar distributors’ reselling price also upped by 1,000 yen to 71,000 yen for base sizes. Wholesalers are trying to follow the price upsurge of direct delivered products and the hike is gradually penetrating. A distributor source said the demand doesn’t seem recovering but they must reflect the makers’ price hike on the reselling price.

Local rebar makers presently hold order backlogs for 3.5-4.0 months. The demand seems to have hit the bottom. A trader source showed an expectation that the demand would improve slightly and gradually. Rebar makers aim to raise the selling price to above 70,000 yen. Wholesalers try to pass higher cost price on the reselling price.