Shape Steel Market Price Rebounds around Tokyo

Shaped steel market price rebounded around Tokyo. H-beam market price increased by 1,000 yen to 61,000-62,000 yen per tonne last week. The market price rebounded for the first time in one year and four months. Equal angle market price also rebounded for the first time in 4 months. Dealers partially succeeded in the price hike in February.

Some integrated steel makers indicate additional price hike of H-beam. Angle and channel makers also examine additional price hike. Dealers can’t comply with the consumers’ price cut orders due to rising cost price.

H-beam makers such as Nippon Steel reduce the supply volume for domestic market. Angle and channel makers such as JFE Bards & Shapes or Osaka Steel seem to be declining order acceptance from dealers.

Dealers have announced to raise the reselling price by 3,000 yen per tonne to 63,000 yen for H-beam, to 73,000 yen for equal angle and to 75,000-76,000 yen for channel. Equal angle market price upped by 1,000-2,000 yen to 71,000-72,000 yen so far.