Dropping Rebar Price in Tokyo
Concrete reinforcing steel bar market price is decreasing at 54,000 yen per tonne for direct shipment from the makers to users and at 59,000 yen for the distributors' inventory sales around Tokyo. The local makers' order receipt is expected to decrease to 80,000-90,000 tonnes level in November from 100,000 tonnes in October. Some transaction is less than 50,000 yen when the users of general contractors press for lower price under their competition to get construction order. The rebar market is likely to keep decreasing before seasonal demand slump in January-March.
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