Firm Sheet Steel Price in Tokyo

Sheet steel price is firm at 67,000-69,00 yen per tonne for hot rolled flat steel, 74,000-76,000 yen for pickling steel and 80,000-82,000 yen for cold rolled flat steel around Tokyo. The price is likely to keep firm when distributors try to increase the reselling price after the 2,000 yen per tonne of price hike for February order by Tokyo Steel Manufacturing. The demand for distributors increases when construction demand recovers while the demand keeps high level for automobile and construction machinery. However, the demand for distributors is limited when distributors’ market is still shrinking due to central purchase by major users. Hot, cold and coated sheet steel inventory is still less than 4 million tonnes and the supply is tight mainly for hot rolled flat steel. However, the pickling steel supply is still easier.