Potential Higher Price for Angle and Channel in Tokyo

Market price of equal angle steel is increasing at 69,000 yen per tonne for products with 6 millimeters thick and 50 mm widths at dealers’ selling price without freight around Tokyo. The channel steel price is 74,000 yen for products with 5 mm thick, 50 by 100 widths. The price could increase when the distributors tries to increase the reselling price after makers increased the selling price by 2,000 yen for June order.Some dealers increased the reselling price by 2,000 yen to 71,000 yen per tonne for equal angle and by 3,000 yen to 77,000 yen for channel in the week.However, the dealers’ shipment is still slow. The price hike move is likely to take longer time to be accepted by the buyers. The dealers expect the demand will recover in July. The market price is pressured by price hikes of makers and dealers.