Sheet Steel Price is Weak in Tokyo

Sheet steel market price keeps weak tone in Tokyo. Dealer or Coil Center is continuing selling price due to the observation that integrated steel makers may raise the selling price from April 2008. The order to dealer is slow due to the revision of Japanese building standard law. The supply and demand for pickled steel sheet is seemed to become tight thanks to strong demand for automobile. But some dealers prospect other steel sheet supply and demand would be loose. The market price is at 69,000-70,000 yen per tonne for hot rolled sheet, at 70,000-72,000 yen for pickling steel and at 78,000-80,000 yen for cold rolled sheet around Tokyo.Some Coil centers keep high operation for automobile or industrial machine. However, other coil centers keep low operation for building material or dealer.The purchasing price of coil centers is increasing when overseas steel makers are increasing the export products price to Japan step by step. Coil centers increased the selling price by 1,000-2,000 yen per tonne in October due to increased Chinese market price. Aftertime, Japanese market price didn’t rise when steel sheet inventory keeps over 4 million tonnes.