Rebar Price is Deadlock around Tokyo

Concrete reinforcing steel bar price is growing stagnant, which hit ceiling at near 60,000 yen per tonne around Tokyo for the base size directly delivered from the makers to the users. General contractors increased the order in July for rebar when rebar makers raised the selling price in July and August. But the order became low at the present day when ferrous scrap price dropped. The rebar market price is expected to continue deadlock.

The market price dropped at the middle of 50,000 yen per tonne in July, while it increased to 59,000 yen currently. The rebar makers raised the selling price by total 6,000-8,000 yen per tonne for the contract in July-October. However, general contractors became see-and-wait stance when ferrous scrap price decreased by 3,000 yen for a month.

The demand isn’t clear in the future. The rebar makers’ award volume increased to 310,000 tonnes in July thanks to dashed order of general contractors, while decreased to over 280,000 tonnes in August. The award volume is expected to decrease to below 200,000 tonnes in September.