Japanese Plate Dealers Raise Selling Price by 10,000 y/t

Steel dealers are trying to raise plate reselling price by 5,000-10,000 yen per tonne around Tokyo this week. The market price surged by 5,000 yen to 105,000 yen per tonne compared with last week. Some dealers aim even higher price, at the highest 114,000 yen.Japanese integrated steel makers announced plate price hike by about 20,000 yen per tonne for April shipment to reflect higher iron ore and fuel costs. Electric furnace steel makers also announced price hike in and after February. Dealers are trying to pass higher cost prices on their reselling prices, offering hike by 3,000-5,000 yen per tonne every week in February.Tokyo Steel Manufacturing increased plate price by 15,000 yen per tonne to 117,000 yen for April orders. Dealer source said they should raise reselling price to over 110,000 yen per tonne after arrival of new-price plate in April.Dealers’ plate shipment keeps slow due to reduction of building construction. On the other hand, makers’ plate supply volume was reduced by 20-30% compared with the same period of last year. Plate market price is expected to surge more consequently.