Weak Sheet Steel Price in Tokyo

Sheet steel market price is weak at around Tokyo. The dealers and processors try to keep the reselling price level to secure profitability but they are forced to reduce the price to get new order under slower demand. The dealers report their shipment is still low level as August. The supply is easy especially for pickling steel when contract users liquidate the material to dealers’ market. The buyers try to wait lower offer with sharp drop of ferrous scrap price and price down by Tokyo Steel Manufacturing. The price level is 102,000-104,000 yen per tonne for hot rolled flat steel, 107,000-109,000 yen for pickling steel and 111,000-114,000 yen for cold rolled flat steel around Tokyo.