Steel Sheet Market Price in Weak Trend, Tokyo

Steel sheet market price maintains weak around Tokyo. Japanese steel makers have almost agreed in the price hike with large-lot users but most of the large-lot users haven’t raised the selling price of steel products to component manufacturers. Consequently the market price is higher than the makers’ actual selling price. Integrated steel makers have announced additional price hike for July-September shipment but wholesalers continue cautious purchasing and reselling just as much as immediate demand.

The market price is 67,000-69,000 yen per tonne for hot rolled sheet, 74,000-76,000 yen for pickled sheet and 86,000-88,000 yen for cold rolled sheet. The market price is 92,000-94,000 yen for coated hot-rolled sheet and 102,000-104,000 yen for coated cold-rolled sheet. Hot dipped sheet price is 92,000-94,000 yen.

Japanese coil centers’ shipment decreased by 10.3% to 534,064 tonnes in May from April, according to Japan Coil Centers Association. Their inventory increased by 7.0% to 712,628 tonnes due to low shipment. The supply and demand balance is loose.

Tokyo Steel Manufacturing reduced the selling price of steel sheet in July. Anshan Steel of China recently lowered the export offer price to Japan. With these movements, market prices had decreased by 2,000-3,000 yen per tonne for mid-thick hot rolled sheet and pickling sheet until the end of last week. Wholesalers turned to weak reselling stances for cold rolled sheet and surface treated sheet. The demand keeps inactive from domestic construction market, the main application for wholesalers.