Angle steel market price is flat at around 119,000 yen per tonne for 6 millimeters thick and 50 mm width at dealers’ site without freight around Tokyo. Channel steel price is also flat at around 124,000 yen. The price increasing mood peaked out. The dealers have trouble to increase the reselling price though some dealers offer 125,000 yen for angle since last week to cover higher cost price. The dealers’ shipment decreased by around 10% from May level when the users’ appetite decreased after speculative purchase in February and March. The inventory level is in line with end of May when the arrivals from makers decrease by around 10% from May. The dealers are cautious on potential insolvency of the buyers when the buyers should settle for note issued in February and March under surging steel price. The dealers select order depending on the buyers’ financial position and the dealers reject some orders. The dealers’ reselling price rage could get wider when they try to sell at higher price for weak positioned buyers.
Japan Steel Scrap Composite Prices (Sangyo Press)
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