Weak Sheet Steel Price in Tokyo

Sheet steel market price is weak at around 91,000 yen per tonne for hot rolled flat steel around Tokyo. The price is 91,000-93,000 yen per tonne for pickling steel, 106,000-108,000 yen for cold rolled flat steel, 111,000-112,000 yen for hot coil based electro galvanized steel and 121,000-122,000 yen for cold coil based electro galvanized steel around Tokyo.

A dealer source said their selling volume decreased rapidly from November. Japanese coil centers’ inventory exceeded 1.8 million tonnes at the end of October. Coil centers or dealers are hurrying to reduce the inventories.

Coil centers’ profits are worsening when Japanese integrated steel makers keep the selling price of steel sheet. A coil center source said the market price isn’t dropping rapidly since makers keep the selling price. On the other hand, some coil centers are requesting the makers’ price cut along the market price down.