Osaka Steel to Reduce Angle & Channel Shipment

Osaka Steel left the selling price of angle and channel unchanged for May order. The firm reduces the shipment by 30% for distributors from previous month to improve the supply condition. The firm has reduced the order acceptance from distributors but tries to reduce more for better supply balance. The firm sees the supply is still easy especially for angle with high level inventory held by distributors with slower distributors’ shipment since March. The firm expects the demand will increase. However, the firm decided not to hike the price with uncertainty mood in the market despite of the high level ferrous scrap market for months.