Angle and Channel Market Price Drops Slightly, Osaka

Angle and channel market price decreased slightly around Osaka. The market price decreased by 2,000 yen to 70,000 yen per tonne for equal angle around Osaka and to 75,000 yen for channel. The market price dropped since early June. Equal steel market price had kept above 70,000 yen per tonne since December 2006.

Dealers’ sales volume decreased by 10.3% to 6,841 tonnes for middle size angle in May from April and by 15.1% to 3,506 tonnes for middle size channel.

Osaka Steel and JFE Bars & Shaped, major angle and channel steel makers, didn’t change the selling price for May-June. Dealers had kept the reselling price. But dealers are starting to offer lower price when users are requiring the price cut intensively in slow demand.

Some dealers are already selling at below 70,000 yen for equal angle. However, a dealer source warned dealers should sustain the reselling price at above 70,000 yen when steel makers may raise the selling price due to high ferrous scrap price.