Sheet Steel Price Rising in Tokyo

Sheet steel market price is rising around Tokyo. Coil centers and dealers are raising reselling prices when Japanese integrated steel makers increased selling price by 20,000 yen per tonne for April shipment due to higher material costs.Steel sheet market price is 83,000-85,000 yen per tonne for hot rolled sheet, 85,000-86,000 yen for pickling steel and 89,000-90,000 yen for cold rolled sheet around Tokyo.The demand for automobile or industrial machinery keeps steady. Coil centers are continuing high operations.The demand for building construction is likely to recover gradually. Speculative demand from secondary dealers or local dealers is increasing. A large dealer source said orders are increasing after January day by day.Overseas steel makers are raising export price and reducing export volume to Japan with rising steel market price in Asia. A large dealer source said they cannot procure overseas products as much as enough.