Shape Steel Price Keeps Strong in Tokyo

Shape steel price is strong in Tokyo. The market price is at around 69,000 yen per tonne for equal angle steel with 6 millimeters thick and 50 mm widths and at around 74,000 yen per tonne for channel steel with 5 mm thick, 50 x 100 widths at dealers’ sites without freight. Major distributors show 71,000 yen per tonne for equal angle steel and 77,000 yen per tonne for channel steel as their reselling prices, when shape steel makers raised their selling prices. However, the market price has not increased under stagnant demand. The market price seems increasing for the time being. The makers announced price hike for July contracts 2 weeks ago. Major distributors quickly passed the increase of cost price and showed new reselling prices in several days after the makers’ price hike announcement. However, shipment remains dull in the market. New reselling prices seem to take some time to spread in the market. Lower price in the market is gradually increasing. Distributors wait demand recovery and keep the sales stance.