Concrete reinforcing steel bar market price is flat at around 59,000 yen per tonne at direct shipment transaction from the makers to the users around Tokyo. The transaction is very thin after the buyers expanded the order in July and August before the activation of the price hike by the makers. The price is likely to keep the level when the buyers try to watch the trend under lower ferrous scrap price.
Rebar makers tried to increase the selling price to more than 60,000 yen per tonne but they failed to fix the price when scrap price decreased. The dealers also targeted 63,000 yen of reselling price for the sales from the inventory but they also cannot get the higher price under slow demand. The makers try to increase the selling price to more than 60,000 yen per tonne when some makers cannot make money with more than 30,000 yen of scrap. However, their order receipt is low level at estimated around 200,000 tonnes for September. Some industry sources expect the demand keeps thin through the year after the makers already got the order in advance.Japan Steel Scrap Composite Prices (Sangyo Press)
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