Better Supply Balance for Plate Market in Tokyo

Plate steel market price is flat at 79,000-80,000 yen per tonne for product with 19 millimeters thick, 5 feet width and 10 feet length at dealers’ site around Tokyo. The cut to length plate price is more than 95,000 yen. The price could increase near future when the demand recovers for bridge earlier than expected. The building demand is also expected to increase in and after October. The plate makers’ lead time is getting longer. The better supply balance could impact on the market price. JFE Steel decided to seek 5,000 yen per tonne of price hike for shipbuilders effective in October. With the higher contract price, the distributors’ market price could increase. The distributors said lower contract price pressure distributors’ market price when some contract priced materials flow into distributors’ market.