Weak Section Steels Price in Tokyo

Section steel market price is weak at around 73,000 yen per tonne for equal angle steel and 77,000-78,000 yen for channel steel around Tokyo. Market sources see the price would more decline when makers reduced the price. Some dealers reduce the reselling price due to the stagnation in demand.

Angle inventory held by dealers at the end of October seemed to remain at the same level of September. The shipment seemed to decrease in October from the previous month. The dealers reduce the purchase volume due to the uncertain demand.

Major section steel makers reduced the price of channel more than angle. The dealers plan to change the extra price of channel and angle.

Despite of the increase of ferrous scrap price, market sources except that section steel price would decline more. The market price would decrease gradually while the demand would not increase for a while.