Section steels market price is decreasing around Tokyo. Some dealers’ reselling price is 78,000 yen per tonne for H-beam while the market price is 80,000 yen. The equal angle steel price is also decreasing from 80,000 yen.
Nippon Steel skips the H-beam order receipt from the dealers in July for the first time in 18 months. The dealers expect the reselling price would be supported by the additional supply cut when the dealers pay more than 80,000 yen for H-beam. A trading firm source said the skip cannot change the weak mood but the dealers could be more cautious for loss making transactions. Osaka Steel left the selling price of angle and channel unchanged. The dealers try to keep the equal angle reselling price when 80,000 yen per tonne of the reselling is already below the purchasing price at and Tokyo Steel Manufacturing reduced ferrous scrap purchasing price by 500 yen per tonne for ocean and land transport to Kyushu plant and Tahara plant on Saturday. The price is 30,500 yen at Kyushu plant and 30,000 yen at Tahara plant for H2 grade.Japan Steel Scrap Composite Prices (Sangyo Press)
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