Colored Galvanizing Steel Price Rises by 10,000 yen/t

Colored galvanizing steel price increased by 10,000 yen per tonne both in Tokyo and Osaka. The market price increased for the first time in 6 months when distributors try to pass higher price after second hike by makers to cover higher zinc ingot cost. However, the smaller distributors and processors cannot pass the higher cost on the users. The price increase could take more time to be accepted by final users. The market price is 199,000-204,000 yen per tonne for large coil and 220,000-225,000 yen for small coil with 0.35 millimeters thick and 914 mm width in Tokyo and Osaka. The price increased by 10,000 yen from the beginning of the year. The makers tried to pass surged cost of zinc ingot as last year. Nippon Steel & Sumikin Coated Sheet, JFE Galvanizing & Coating, Yodogawa Steel Works and Nisshin Steel increased the selling price by 20,000 yen per tonne by the beginning of the year, which were the first hike since spring of 2006. The market price increased by 5,000-10,000 yen per tonne by early March for the firs time in 6 months after major distributors tried to pass the higher cost price since February. A dealer in Osaka said the market price increase was a month later than makers’ hikes after the buyers secured materials by the beginning of the year with expectation for higher price.