Weak Plate Market Price in Tokyo

Plate steel market price is weak at 83,000 yen per tonne for product with 19 millimeters thick, 5 feet width and 10 feet length around Tokyo. The price is around 94,000-95,000 yen for cut processed materials. The dealers are still watching market condition without action to increase the reselling price while domestic makers raise the selling price.

Plate shearing processors expect lower demand after the increase for bridge works in March. The processors expect higher demand for steel structure building in later the year.

The plate market price decreased by around 5,000 yen per tonne in early May. A trading firm source said the price is near bottom when selling price of offshore makers and domestic makers hit bottom. However, Tokyo Steel Manufacturing could reduce the price to reflect lower ferrous scrap cost.

Some offshore makers offer 2,000 yen per tonne lower price than Tokyo Steel to domestic buyers. The dealers are reluctant to buy the import due to very slow demand.