Shape steel market price is under stronger pressure for lower price around Tokyo. The dealers’ selling price decreased by 2,000-3,000 yen to 69,000-70,000 yen per tonne for H-beam from last week. Other shapes and construction steel products would also decrease under pressure by the buyers after Tokyo Steel Manufacturing announced wide price cut. The market price would keep decreasing while other steel makers’ move is uncertain.The dealers’ shipment is inline with May level. The order for the dealers decreases after Tokyo Steel’s price down. A dealer source sees the buyers hold the order with expectation for lower price while another view is lower actual demand for construction. The slow demand would impact on the market price. The market price decreased by around 3,000 yen to 70,000-71,000 yen per tonne for angle under lower ferrous scrap price and Tokyo Steel’s price cut. Market mood is weak for other construction steel items.
Japan Steel Scrap Composite Prices (Sangyo Press)07/02/2020
|23300YEN (-500)||25300YEN (-500)|
|214.77US$ (-3.34)||233.2US$ (-3.24)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)