Strong Plate Price in Tokyo

Mid-sized plate price is strong at 66,000-68,000 yen per tonne around Tokyo. Large dealers and coil centers raised their selling price by 2000 yen per tonne from November shipping, which almost impregnated. They think to raise by 1,000-2,000 yen per tonne before the end of this year. Tokyo Steel Manufacturing’s price hike also lifted the price along with distributors’ effort that Tokyo Steel Manufacturing raises the selling price by 2,000 yen in October contracts. The price is expected to keep firm when hot, cold and coated sheet inventory decreased to less than 4 million tonnes and the sheet market price shows sign to increase. The demand is improving for construction materials while the demand keeps firm for construction and industrial machinery. The supply of plate with 9-12 millimeters thick and wider size range is getting tighter under tight supply of plate mill products. Integrated steel makers’ production is busy for the demand for automobile. The market source said the supply and demand is very tight. Japanese steel sheet inventory for domestic shipment was below at 4 million tonnes, which is appropriate level, at the end of October at Japanese steel makers, distributors and coil centers belonging to Japan Coil Center Industry Association. With this situation, the market price is expected to spread rising mood.