H-beam market price decreased by 2,000 yen to around 88,000 yen per tonne around Tokyo. The price decreased to less than 90,000 yen for the first time in a year after 40,000 yen price cut by Nippon Steel and 5,000 yen cut by Tokyo Steel Manufacturing. Other construction materials price also decreased and is expected to decrease more.
Large diameter square pipe price decreased by 5,000 yen to 140,000 yen per tonne around Tokyo. The market price decreased by 2,000 yen to 88,000 yen for equal angle and to 93,000 yen for channel. The price decreased by 2,000 yen to 100,000 yen for flat bar and by 5,000 yen to 115,000 yen for sheet forming C channel. The price is likely to decrease more when the market expects further down after major makers’ wide price cut along with slow demand. The oversupply condition could impact on the market while major makers try to reduce the overstock by major production cut.Japan Steel Scrap Composite Prices (Sangyo Press)
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