Steel Sheet Market Price in Wait-and-See Situation, Tokyo

Steel sheet market price levels off in wait-and-see situation around Tokyo. Steel sheet trading diminished after Tohoku-Kanto Earthquake. The market tone was strong before the earthquake since dealers were trying to raise reselling price along steel makers’ price hike. However, both users and dealers were damaged by the quake and steel sheet order volume largely decreased. The market price would keep flat for a while.

The market price is 65,000-67,000 yen per tonne for hot rolled steels, 74,000-76,000 yen per tonne for pickled steel sheet, 83,000-85,000 yen for cold rolled steel sheet, 92,000-94,000 yen for electrogalvanized hot rolled steel sheet, 102,000-104,000 yen for electrogalvanized cold rolled steel sheet, and 92,000-94,000 yen for hot-dip zinc coated sheet.

Most steel sheet dealers around Tokyo Bay seem to be damaged by the earthquake and they are devoted to recover sites and operations. Many users closed down plant operations and came to temporary trade stoppage. There are several anxiety factors which would affect delivery, such as short supply of fuel and restrictions of plants’ operation along TEPCO’s power outage plan. It requires substantial time for stabilization of the market.