Equal angle market price is flat at 75,000 yen per tonne without freight for product with 6 millimeters thick and 50 mm width around Tokyo. Channel price is 80,000-81,000 yen. The price keeps the level under slower demand after the lift by makers’ 3,000 yen hike. The price is likely to keep the level with no positive factor unless distributors’ inventory price increases higher and makers’ output reduction reduces the supply. Local dealers’ daily shipment was lower both for angle and channel in March from February, according to Tokyo Steel Product Dealers Association. The angle inventory, represented 3 months for the shipment, was overstock while the channel stock was normal at 2.7 months of shipment. Major maker reduces the shipment for distributors by 10-15% in April-June from January-March to improve the supply balance. The maker eyes additional supply reduction depending on the market. The market is likely not to decrease when the makers could increase the price additionally to cover higher ferrous scrap cost. However, the dealers just try to keep the price level under slow demand and they try to find the timing to increase the reselling price again. The market players could wait the better supply balance with no sign for better demand toward a-week long holiday.
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Japan Steel Scrap Composite Prices (Sangyo Press)
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