Weak Angle, Channel Steel Price in Tokyo

Angle steel market price is weak at around 123,000 yen per tonne for product with 6 millimeters thick and 50 mm width at dealers’ sites around Tokyo. Channel steel price is weak at 128,000 yen for product with 5 mm thick, 50 by 100 mm width. The dealers’ selling price is lower due to slower demand. Japanese makers keep the market price level by the reduction of award volume. The buyers reject 125,000 yen offer by the dealers for angle under very slow building market. The price is likely to keep the level through major mid-August holiday to August 17.Dealers’ shipping for equal angle is flat over the previous month while the shipping per day is decreasing due to reduced order by users. Warehousing volume of dealers keeps flat with low level when makers’ shipping is decreasing by the reduction of award volume. But the dealers’ inventory is increasing due to slower shipping.Dealers can’t raise the selling price to 125,000 yen per tonne, which are selling at mainly 121,000-122,000 yen per tonne. Osaka Steel, Japanese biggest angle and channel maker, didn’t change the selling price for the contract in October. Other makers will maintain the selling price. Meanwhile, users are requesting lowering price when ferrous crap price decreased to above 400,000 yen per tonne.