Steel Sheet Market Price Increases by 5,000 Yen/t in Tokyo

Steel sheet market price increased by 5,000 yen per tonne for hot, cold rolled and pickled sheet and 3,000 yen for surface treated sheet around Tokyo this week. Dealers are trying to secure inventories through mutual trading among dealers after steel makers announced the price hike. The market inventory is rapidly shortening. The supply and demand balance is expected to tighten more due to a trouble of a blast furnace in Nippon Steel’s Oita iron works. The sheet market price seems to continue increasing.

The market price is 64,000-66,000 yen per tonne for hot rolled sheet, 71,000-73,000 yen for pickling steel, 81,000-83,000 yen for cold rolled flat steel, 91,000-93,000 yen for coated sheet based on hot coil, 99,000-101,000 yen for coated sheet based on cold steel and 90,000-92,000 yen for hot dip zinc coated sheet.

Japanese integrated steel makers announced to raise the selling price for April shipment. Raw material prices are set very high between steel makers and offshore material suppliers. Tokyo Steel raised the contract price for 3 consecutive months. Steel sheet dealers and users expect the market price would rise more.

Secondary and third processors are hurrying to secure inventories due to Oita iron works’ accident. Selling stances of large distributors and coil centers are shifting strong.