Lower Angle, Channel Market Price in Tokyo

Angle market price is weak at 83,000-85,000 yen per tonne at the dealers’ selling price without freight around Tokyo. Channel market price is also weak at 85,000-87,000 yen. The price would decrease more under slow demand when Tokyo Steel Manufacturing reduced the channel selling price while other makers keep the selling price.

The dealers’ inventory increased by 5.2% to 15,036 tonnes for angle and decreased by 8.5% to 12,269 tonnes for channel at end of April from March around Tokyo, according to local dealers’ group. The dealers try to decrease the stock level by reducing the new order to the makers. However, the stock is expected to increase in May when their shipment decreases from April.

Osaka Steel and JFE Bars & Shapes left the selling price unchanged. The dealers around Tokyo try to keep the reselling price to secure the profitability. However, the market price decreases around Tokyo when the market price decreased more in Osaka.