Flat Rebar Price in Tokyo

Concrete reinforcing steel bar price is flat at 113,000 yen per tonne around Tokyo for base sizes directly delivered from the makers to the users. Local dealers’ sales price is 113,000 yen per tonne delivered from their inventories. Local dealers will keep selling price. Many dealers expect electric furnace makers’ purchase price for ferrous scrap increases in near future. Rebar makers’ Award volume decreased to 235000 tonnes by 6% in July around Tokyo, which keeps low level at 200,000-250,000 tonnes per month after June.Large dealer source said there is no hope of the demand in the last half of fiscal 2008 at the ended of March 2009 when much condominium building construction is stopped and postponed. Tokyo Steel Manufacturing, Japanese biggest electric furnace maker, reduced selling rebar price by 12,000 yen per tonne for the sales in September. However, Tokyo Steel’s price cut doesn’t make impact to the market around Tokyo when the firm’s products don’t be delivered to Tokyo. Many dealers or users are waiting and seeing, which carefully correspond against ferrous scrap price or demand condition.