Firm Angle and Channel Price in Tokyo

Equal angle market price is firm at 72,000 yen per tonne for product with 6 millimeters thick and 50 mm width around Tokyo. Channel price is 78,000 yen for product with 5 mm thick and 50 by 100 mm width. The distributors try to pass the higher cost price after makers’ hikes despite of slower demand. The price is likely to keep firm under pressure by makers and distributors. The makers announced hikes in February and the major distributors started the increasing effort in March. The smaller distributors finally follow the move. The makers are cautious for higher ferrous scrap market price and have attempt for additional hike. The makers reduce the supply for distributors under slower demand and the distributors’ inventory keeps low level though the level is slightly higher than a year earlier. The distributors try to avoid low priced order to secure limited inventory.