Weak Common Steel Nail Price around Tokyo

Common steel nail market price is 160,000 yen per tonne for the size with 100 millimeters length around Japan. Dealers’ sales are decreasing by 30% over the previous year due to slower house constructions. Some dealers are offering lower reselling prices. The market price is expected to continue lowering.

Because the demand maintains low and the inventory remains in the market, dealers’ sales don’t increase. Many dealers are minimizing spot purchase in order to reduce their inventories with an anticipation the market price would decline.

Users are strongly requesting the price cut to dealers and paying attention to nail makers’ selling price policy. Makers advocate they can’t reduce the selling price since wire rod price doesn’t decrease. Many dealers think makers don’t decrease the selling price for demand boosting. But dealers apprehend some dealers may decrease the reselling price for realization.