Weak Rebar Price in Tokyo

Concrete reinforcing steel bar market price is weak tone at around 720,000 yen per tonne at direct shipment from makers to the users around Tokyo. Dealers are reducing the selling price day by day when general contractors request to cut the selling price strongly. Building projects for condominiums are postponed or canceled. Because the demand is decreasing, the market price appears to decrease for a while.

Rebar makers’ award volume increased by about 30% to 160,000 tonnes in February form January around Tokyo. But the orders from users keep low to rebar makers after the price cut of Tokyo Steel Manufacturing.

Some general contractors will purchase rebar when their schedule for building construction is pressed for time, but they are holding off the buying due to the anticipation of a fall.

Ferrous scrap price is below 20,000 yen per tonne, expected to more drop. Rebar market price may become below 7,000 yen per tonne when some rebar makers are selling at 70,000 yen or less. The market price decreased to 65,000 yen around Osaka and seems to have an impact on Tokyo market. Rebar makers around Tokyo keeps the selling price.