Cut Plate Price Soars to 140,000 y/t around Tokyo

Cut plate market price surged to 140,000 yen per tonne around Tokyo, up by 5,000 yen from the end of June. Japanese integrated steel makers raised sheet selling price by 10,000 yen per tonne effective for June shipment. Shearing processors are passing rising cost price on reselling price.Dealers have failed to raise the reselling price enough yet. Orders for small-middle building constructions are slow. The market price had kept at 135,000 yen per tonne since late May due to back actions for specific demand in May.The demand maintains stagnant in July. But rising material costs pulled up cut plate market price. A shearing processor source said the firm will announced another hike by 5,000 yen per tonne in August.Dealers’ plate inventory decreased by 9.2% to 112,919 tonnes at the end of May from a year ago around Tokyo, according to shearing processor association. The supply and demand balance is tight due to the strong demand such from shipbuilding. The supply for dealers keeps low level. Some dealers hold back accepting orders at cheaper price when plate procurement is anticipated to become even harder.