Steel sheet market price is under weak tone around Tokyo. Tokyo Steel Manufacturing’s price cut for November orders triggered the market price downward. Chinese sheet market price is decreasing due to excess production. Steel production may become surplus when Hyundai Steel, South Korean steel maker, and Shougang group, Chinese steel maker, plan to start operation of new blast furnaces next year.
Market price is around 60,000-61,000 yen per tonne for hot rolled flat steel, 62,000-64,000 yen for pickling flat steel and 76,000-78,000 yen for cold rolled flat steel around Tokyo. Electric galvanized sheet price is 87,000-89,000 yen based on hot sheet and 97,000-99,000 yen based on cold sheet. Hot dip galvanized sheet price is 90,000-91,000 yen. Domestic inventory of hot rolled, cold rolled and zinc coated steel sheets held by makers, dealers and processors was 3.429 million tonnes at the end of September. The inventory slightly increased in August due to seasonal reason while turned downward again in September. The inventory rate lowered to 2.06 months against shipment at the end of September. Sheet makers and dealers adjusted the inventory. Automobile and electric appliance makers increased their outputs. Automobile makers recently revised up their sales plans. Demand recovery trend is clear. Japanese coil centers’ operation rate rebounded to 68.8% in September. Their processing volume was 1.136 million tonnes, which exceeded 1.1 million tonnes for the first time in 10 months. Coil centers’ and dealers’ sales volume is recovering to 60-70% of the peak level for automobiles and electric appliances.Meanwhile, the sales still stays below 50% for building materials, construction machines and industrial machines. A dealer source said the sales have rebounded only by 30% for building materials. Users are strongly requiring price cut to dealers and processors after price down by Tokyo Steel Manufacturing, Japanese major sheet maker. The market price of hot rolled sheet decreased by 1,000-2,000 yen from last week.M | T | W | T | F | S | S |
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Japan Steel Scrap Composite Prices (Sangyo Press)
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