Steel Sheet Market Price in Strong Uptrend, Tokyo

Steel sheet market price is strong around Tokyo. Steel sheet dealers are trying to raise the reselling price to cover high cost after steel makers’ hike. Some dealers are increasing inventory with an anticipation the market price surges more. Steel sheet trading is active. The market trend upturned for the first time in 8 months along raw material cost upsurge despite of slow demand recovery in end market.

The current market price is 63,000-65,000 yen per tonne for hot rolled sheet, 72,000-74,000 yen per tonne for pickled sheet and 83,000-85,000 yen per tonne for cold rolled sheet around Tokyo. Electrogalvanized sheet price is 92,000-94,000 yen per tonne for the product based on hot rolled sheet while 102,000-104,000 yen per tonne for the product based on cold rolled sheet. Hot dip galvanized sheet price is 92,000-94,000 yen per tonne.

Major steel makers announced steel sheet price hike in December and January. The market price reflected the makers’ hike and increased by 2,000-3,000 yen for hot rolled sheet and pickled sheet last week ahead of other items. Supply and demand balance is rather tight for hot rolled sheet and pickled sheet. Dealers are trying to raise the reselling price for cold rolled sheet and surface treated sheet, too.

Japanese coil centers’ shipment recovered above 1.3 million tonnes in November. The demand downturn was less serious than concerned after the end of Japanese incentive for eco friendly car purchase. Domestic new housing starts recently represent year-to-year plus though the number still maintains low level. One dealer source said “there seems no factor to weaken steel sheet market price,” and showed a concern the cost price rises more.