Weak Plate Price in Tokyo

Plate steel market price is decreasing from 87,000 yen per tonne for standard sized products with 19 millimeters thick, 5 feet width and 10 feet length and 95,000-100,000 yen for cut processed material around Tokyo.

The demand remains low due to very slow construction activity. Private investment for residential building, factory and warehouse shows no sign of recovery while public works decreases. Despite the increase from the bottom, the shipment for construction machinery remains low. The dealers’ shipment is about 50% of level in April-September 2008.

The plate dealers decrease the purchase to adjust supply and demand balance. However, the plat market price is decreasing when steel frame fabricators request price cut and Tokyo Steel Manufacturing reduced the selling price to 61,000 yen per tonne for January shipment.