Japanese steel dealers showed weak business confidence against Japan Metal Bulletin’ s survey. Seventy-seven dealers trading shaped steel, bar, tube, wire rod and colored sheet in Tokyo and Osaka answered a questionnaire and 87% of them regarded present business sentiment to be bad. 71.4% of them forecast market confidence worsens in September though entering demand season of structural steels for constructions in usual years. Market price is forecasted to lower mainly for rebar by 38.3% dealers.
The survey was implemented in early August. As to present market price trend, 10.4% answered upward, 46.1% answered leveling off and 43.5% answered downward. Steel makers announced price hike for most products in April-June but 52.8% dealers answered they haven’ t passed higher cost price on their reselling price. Market demand for steel products is expected to improve in late August by 7.9% dealers while 60.5% dealers answered the demand would keep flat and 31.6% chose the demand declines. Steel supply and demand balance is expected to keep flat by 53.2% dealers while to loosen by 41.6% dealers. A steel tube dealer around Tokyo said the sales volume is likely to decrease in the second half of fiscal 2010 (October-March) compared with the first half year. A steel wire dealer around Osaka said the market price would drop if the demand doesn’ t recover in autumn despite of the demand season. On the other hand, a shaped steel dealer around Osaka said order volume is increasing compared with the same period of 2009. Demand for steel products maintains favorable from manufacturing industry but stays slow from constructions. Many dealers trade steel products related to construction market and, as a result, their business confidence is significantly bad. It is hard dealers pass high cost price on their reselling price during the second half of fiscal 2010.Japan Steel Scrap Composite Prices (Sangyo Press)
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