Japan's rebar market unmoved by hefty price hike

The surprise announcement made late last week by Tokyo-based rebar sales company Kanto D-bar Steel that it was raising its sales price by Yen 5,000/tonne ($34/t) from September 1 seems unlikely to have the effect of correcting the sinkhole (rebar) price that the company intended.

In its statement made last Thursday, Kanto D-bar painted a gloomy picture of market conditions. "Demand for rebar bars has been sluggish due to the decrease in construction capacity," it conceded. "Against the backdrop of a decrease in working hours due to work style reforms, the current operating rate