Market price of color coated steel sheet levels off in wait-and-see mood around Tokyo. The market price is around 230,000 yen per tonne for small coil with 0.35 millimeters thick and 914 mm width while 210,000 yen for large coil. Both of the makers and the distributors are willing to raise the selling/reselling prices but the price hike announcement hasn’t begun yet. The makers and the distributors are cautiously watching hot coil price hike movement by integrated steel makers or demand condition of coated steel sheet.One steel maker source indicated they would try to pull up the bottom price along with hot coil price hike. The source also suggested the price hike against wholesalers. Coated steel sheet makers are likely to launch the price hike announcement in July. Meanwhile, one distributor said the makers haven’t decided the price hike range. The makers expect coated steel sheet shipment would increase for construction projects such for warehouses in or after July. At present, construction projects tend to delay due to worker shortage and the inventories of processed products such as light-weight ceiling or shutter seem increasing at the users. Inventory adjustment of coated steel sheet has advanced at the makers and the dealers. The inventory level is expected to become balanced with the demand until mid August. One steel maker forecasted coated steel sheet demand could maintain the current level or increase slightly for July-September compared with April-June. The shipment is presently slow while is expected to recover in or after the next quarter. Both of the makers and the dealers keep the current inventory level to meet the demand upturn in and after July.
Japan Steel Scrap Composite Prices (Sangyo Press)02/22/2024
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)