Coated steel price is flat at 91,000 yen per tonne for electro-galvanizing steel based on hot rolled steel in Tokyo. The distributors wait next move for integrated steel makers’ price change and inventory status though the lower imported coil price impacts on the market. The domestic inventory of hot, cold and coated sheet was 4.44 million tonnes at the end of January. The galvanizing steel inventory was 1.24 million tonnes, which increased by 31,000 tonnes from December and by 47,000 tonnes from a year earlier. The higher inventory cools the market mood. With the oversupply and slower demand for distributors’ market, the market price is decreasing. The imported coil price is still cheap for some products from South Korea and other sources. The distributors try to keep the re-selling price when domestic integrated steels keep the higher selling price though the price gap between domestic and imported products is one of the factors of expectation for lower price. The market price has some sign to hit bottom with no more negative factor though the distributors’ shipment is still low level.
Japan Steel Scrap Composite Prices (Sangyo Press)12/08/2023
|49900YEN (-)||51400YEN (-)|
|345.93US$ (9.15)||356.33US$ (9.43)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)