JFE Bars & Shapes Keeps Reducing Angle, Channel Supply for Dealers

Tokyo based JFE Steel groups’ electric furnace steel maker, JFE Bars and Shapes announced on Tuesday the firm leaves the selling price of equal and unequal angle and channel steel unchanged for January. The firm keeps halving the order receipt volume from distributors compared with a year earlier level. The firm indicates potential additional reduction of the order receipt depending on the dealers’ shipment and inventory level. The demand is very slow for building application when building activity is very slow due to confusion for new building standard law while the demand is firm for civil works, shipbuilding and construction and industrial machinery. The firm sees the dealers’ inventory level is getting toward normal level and the overstock status for dealers around Tokyo is also decreasing.