Weak Plate Steel Market in Tokyo

Plate steel market price is weak at 127,000-128,000 yen per tonne for standard size with 19 millimeters thick, 5 feet width and 10 feet length and at 148,000-150,000 yen for cut processed materials around Tokyo. The price could decrease sooner or later when the dealers cannot get higher price.

The demand is slow for building due to slump for small- and mid-sized building activity. The dealers also see the demand for construction and industrial machinery decreases when the machinery makers revised the production plan under slower demand.

The processors’ inventory increased in Tokyo in October for the first time in 4 months, according to Japanese searing processors’ association. The inventory for shipment increased by 5.7 points to 127% due to low level shipment.

The dealers try to keep the reselling price despite of slow market when domestic integrated steel makers keep the high price. However, the uncertainty increases in the market. A dealer source said the market already entered into adjustment.