H-beam Price May Hit Bottom in Nagoya

H-beam market price is weak at around 68,000 yen per tonne around Nagoya under slow shipment and higher inventory at local dealers. The dealers see the price would hit the bottom depending on Tokyo Steel Manufacturing’s price move when Nippon Steel tries to increase the selling price by 3,000 yen for March order and Sumikin Steel & Shapes followed the move.

The dealers’ shipment is decreasing for steel structure for building around Nagoya since middle of January. The inventory increased at local dealers due to slower shipment. The market price is weak when the makers and dealers try to secure sales toward end of the fiscal year.

Nippon Steel announced H-beam selling price hike for March order idling the production at the mill. One trading firm source sees the demand remains weak and the inventory would increase more to the end of March. But the source expects the market price would increase in and after April when the makers are reducing the shipment to increase selling price and construction projects would start around Nagoya around May.