Angle, Channel Price to Rise in Tokyo

Angle steel market price is flat at 74,000-75,000 yen per tonne for product with 6 millimeters thick and 50 mm width and channel price is 80,000-81,000 yen for product with 5 mm thick, 50 by 100 width around Tokyo. The price could increase when the distributors try to pass the higher cost price after 5,000 yen hike by Osaka Steel and JFE Bars & Shapes to pass higher ferrous scrap cost. The supply balance is normal while H-beam is tighter. Channel supply is still oversupply condition around Tokyo while angle supply is also easy. The distributors said their shipment in August is in line with July level. Their shipment is likely to decrease in August from July due to major summer holiday in mid-August. The distributors try to find the timing to increase the reselling price when the makers try to reduce the supply for distributors’ market. Some distributors will increase the offer by 3,000 yen per tonne next week to pass the higher cost price.