Sheet Steel Price to Keep High in Tokyo

Sheet steel market price is weak around Tokyo. Some of the dealers compromise the price for hot rolled flat steel and pickling steel under slower demand for machinery and automobile along with slow demand for construction applications. Most of the dealers and processors are still cautious for potential tight sheet steel supply toward the year end. The sheet steel market price is 103,000-105,000 yen per tonne for hot rolled flat steel, 106,000-109,000 yen for pickling steel, 115,000-118,000 yen for galvanizing steel based on hot rolled flat steel and 125,000-128,000 yen for galvanizing steel based on cold rolled flat steel around Tokyo. Tokyo Steel Manufacturing reduced the selling price by 12,000 yen per tonne for sheet steel for distributors for September shipment. However, the price level is higher than the level of domestic integrated steel makers. The dealers and processors try to keep the price level.