Firm Rebar Price in Tokyo

Concrete reinforcing steel bar market price is firm at around 59,000-60,000 yen per tonne at direct shipment transaction from the makers to the users around Tokyo. The price is supported by 6,000-8,000 yen hike by the local makers for August order while ferrous scrap price decreases recently. The makers’ order receipt could decrease after the buyers increased the order before the price hike.

The price started to increase gradually after the makers announced the price hike to cover higher scrap cost. The trading firms try to avoid lower priced transaction to cover higher cost price. The market try to find the next trend of the scrap market when the scrap price decreased by 3,000-4,000 yen per tonne from the recent peak in August.

The makers’ order receipt is estimated to be just more than 280,000 tonnes in August after 310,000 tonnes in July when the buyers try to increase the order before the price hike. Some industry interests expect the order to makers is expected to decrease more in September.