Coated steel sheet market price is flat around Tokyo. The market price is 90,000-92,000 yen per tonne for hot rolled coil based electrogalvanized steel, 100,000-102,000 yen for cold rolled based electrogalvanized steel and 90,000-92,000 yen for hot dip galvanized steel. The market price would not increase soon due to ongoing inventory adjustment and cheaper import.
The dealers try to increase the selling price when Tokyo Steel Manufacturing announced the price hike for October order. The market price is hitting bottom when the users recognize the price couldn’t decrease more. Japanese new housing starts were 83,398 units in July, which represented year-on-year increase for 4 months in a row. The adjusted annual housing starts increased to 955,000 in July. The flat steel market sources see the demand would increase due to seasonal factor. However, the inventory remains high against the demand while the dealers reduce the stock. Imported material price gets attractive for domestic users due to higher yen exchange rate.Japan Steel Scrap Composite Prices (Sangyo Press)
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