H-beam distributors around Tokyo try to increase the offer by 2,000-3,000 yen to 82,000-83,000 yen per tonne for base size without freight. They try to pass higher cost price after makers hike in last summer and to improve the profitability when the makers are expected to increase the selling price again. The distributors eye additional 2,000-3,000 yen hike in the month pressuring the local market. Nippon Steel left the selling price unchanged for distributors for January order. However, the market expects the makers should increase the price near future. The market waits Tokyo Steel Manufacturing’s price announcement next week. The distributors try to increase the reselling price before makers’ additional hike. Nippon Steel and other makers increased the selling price by 3,000 yen per tonne for August 2007 order. With the supply side pressure, the market price around Tokyo reached 80,000 yen per tonne in mid-September. However, with very slow building market due to confusion for new building standard law, the price leveled off.
Japan Steel Scrap Composite Prices (Sangyo Press)
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