Section Steels Market Price Bottoms Out around Tokyo

Section Steels market price bottomed out around Tokyo. The market price is 60,000-61,000 yen per tonne for H-beam. The dealers try to increase the low price, which is less than 60,000 yen when Tokyo Steel Manufacturing increases beam price by 3,000 yen for order in February. However, the demand remains low. The dealers plan to increase reselling price after Nippon Steel and other makers follow the hike by Tokyo Steel.

Some dealers plan to increase section steels reselling price next week at the earliest. Other dealers increase the price until early February after the dealers watch how much maker price increases. Nippon Steel and other integrated steel makers would increase the price next week following Tokyo Steel Manufacturing.

Equal angle steel market price would not decline from 70,000 yen per tonne. Some angle makers stop the order receipt from dealers while these makers plan to increase the price. The dealers expect the makers would increase the price for February order.