Rebar Price Increases by 3,000 Yen/t in Tokyo

Concrete reinforcing steel bar price increased by 3,000 yen to 113,000 yen per tonne around Tokyo for base size directly delivered from the makers to the users. Local dealers’ reselling price increased by 1,000 yen delivered from their inventories. The market price kept flat at around 110,000 yen in July due to slow demand. However, dealers restarted to raise the reselling price when rebar makers increased the selling price.The market demand maintains slow. Many building construction projects are postponed or canceled due to rising steel product or other material costs. Meanwhile a large dealer source said their order volume to rebar makers increased by 8.6% month-to-month to 250,000 tonnes in June and the demand seems stable.Local rebar makers have raised the selling price by total 45,000 yen from February orders. The makers are likely to offer additional hike when ferrous scrap or sub-material costs significantly rose.Funabashi iron works of Godo Steel, Japanese major electric furnace steel maker, will stop the operation for scheduled refinement during 11 days from August 20. Other makers will also stop production during July-September. Rebar supply will seasonally decrease.