Steel Sheet Price Maintains Strong in Tokyo

The market price of steel sheet continues increasing in Tokyo with strong selling stances of coil centers when inventory adjustment has advanced in the market and Tokyo Steel Manufacturing raised its selling price for 2 consecutive months. Some distributors also aim price hike with expectation that integrated steel makers seem to raise their selling prices, while wholesalers’ market is shrinking under purchase integration by large contract users.The market price is 67,000-69,000 yen per tonne for base sized hot-rolled steel sheet among distributors, 75,000-77,000 yen per tonne for pickled steel sheet, 79,000-81,000 yen per tonne for cold-rolled steel sheet and 89,000-91,000 yen per tonne for surface treated steel sheet. The prices increased by around 1,000-2,000 yen per tonne at the beginning of May thanks to recovery of overseas markets and decreasing inventory in Tokyo since the last half of March.Steel sheet shipment and processing volume are favorable at the makers with firm demand from manufacturing industries such as automakers and construction machine makers. On the other hand, shipment has not recovered so much at distributors under shrinking market for wholesalers. Distributors and coil centers expect shipment recovery even in the situation, when the market price seems upward and the anticipatory demand might increase with the higher price.

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