Shape Steel Market Prices in Strong Tone, Tokyo and Osaka

Shape steel market prices are strong around Tokyo and Osaka. Shape steel dealers and distributors are trying hard to raise the reselling prices to follow steel makers’ aggressive price hike for H-beam, shape steel and flat steel bar. Japanese construction market maintains stagnant. However, shape steel dealers suppose steel makers should launch additional price hike soon. The market prices are likely to keep uptrend for a while.

Around Tokyo, H-beam market price continued surging to 82,000-83,000 yen per tonne by this week. Dealers’ price hike offers were mostly approved. Equal angle market price also surged to 83,000 yen per tonne while channel market price reached 85,000-87,000 yen per tonne. Section steel makers have raised the selling price by total 18,000 yen for recent 3 months, wider hike range than H-beam. Market dealers eye next price hike for equal angle to 85,000 yen in mid February.

As to flat steel bar, the market price is strong at 95,000-98,000 yen per tonne. Oji Steel, Japanese top maker of flat bar, raised the selling price for 2 months in a row. Steel dealers seem to target 100,000 yen or higher level in order to cover high cost price.

Around Osaka, equal angle and channel market prices increased by 3,000 yen to 83,000 yen per tonne for base size products. Major section steel makers announced price hike for February contracts. Steel makers’ sales stances are strong when ferrous scrap price is surging.