H-beam price turned downward for the first time in 4 months around Tokyo. The market price currently decreased by 2,000 yen to 68,000 yen per tonne. The distributors are lowering the reselling price to follow Tokyo Steel Manufacturing’s price down announcement. The demand maintains stagnant when domestic manufacturing industry and retailing industry minimize capital investment. The market price is expected to keep down trend.
Tokyo Steel Manufacturing announced to decrease its H-beam selling price by 5,000 yen per tonne for November contracts. Sumikin Steel & Shapes also announced the price down. It is still unclear whether integrated steel makers follow the price down. Some distributors lowered their reselling price in advance. The distributors are offering 70,000 yen per tonne at present, as high as the price before Tokyo Steel Manufacturing’s announcement. Several distributors are trying to sustain the price level because they cannot gain profit based on 65,000 yen announced by Tokyo Steel Manufacturing. Meanwhile, other distributors are approving price cut. Japanese H-beam export volume is decreasing due to high exchange rate of yen. Some distributors are concerned about supply increase in domestic market. The market price trend relies on H-beam makers’ price and supply policies.M | T | W | T | F | S | S |
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Japan Steel Scrap Composite Prices (Sangyo Press)
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