Weak Rebar Price around Tokyo

Concrete reinforcing steel bar market price is 56,000 yen per tonne for direct shipment from makers to users and 61,000 yen for dealers’ sales from inventory around Tokyo. The price declined by 1.6% or 1,000 yen for inventory sales from last week. The price would decline more due to the low demand and increasing price competition. Tokyo Steel Manufacturing increases the price for December order. However, the hike has no effect on market price around Tokyo.

Tokyo Steel announced the firm increases rebar price by 2,000 yen to 50,000 yen per tonne for December order. However, Tokyo Steel has small share in rebar market around Tokyo and the price before hike was lower than other makers. The market price remains low around Tokyo.

Some transaction prices are 50,000-54,000 yen per tonne for direct shipment and less than 60,000 yen for inventory sales. The price would decline more while the demand remains low. The market price is estimated to decrease to less than 60,000 yen for inventory sales. The makers and dealers are required to adjust supply and demand balance.