Mid-sized Plate Price Keeps Flat around Tokyo

Mid-sized plate market price keeps flat around Tokyo. The price increased by 1,000 yen per tonne in the beginning of this month due to dealers’ strong selling stances with the upsurge of the imported plate price. However, the users and the secondary dealers are showing strong disapprovals against the dealers’ price hike when building material shipment is decreasing impacted by the revision of Japanese building standard law. Major dealers are increasing the selling price.The market price is 68,000-69,000 yen per tonne with cutting by leveler. POSCO, South Korean steel maker, and China Steel, Taiwanese steel maker, reduced the export volume of mid-sized plate to Japan and are increasing the selling price to Japan. Consequently, Japanese major dealers or coil centers raised the selling price by 2,000-3,000 yen per tonne from this month.However, the building construction largely decreased due to the revision of Japanese building standard law. Decreased demand for building material is exerting bad influence to steel dealers day by day. Dealer source said the demand is growing worse month by month despite of demand season.Japanese integrated steel makers are carrying out output reduction to adjust the supply to the current demand level.