Flat Sheet Steel Price in Tokyo

Sheet steel market price is flat at around 105,000-106,000 yen per tonne for hot rolled flat steel around Tokyo. The dealers try to pass higher cost price on the market after the domestic integrated steel makers increased the selling price in the month. However, the buyers resist the higher price under slow demand. The price started to show sign for decrease despite of the pressure by steel makers. The price is 108,000-110,000 yen per tonne for pickling steel, 112,000-115,000 yen for cold rolled flat steel, 115,000-118,000 yen for hot rolled based coated steel and 125,000-128,000 yen for cold rolled based coated steel around Tokyo. The dealers’ shipment is slow especially for building market. The credit crisis is emerging in the market when some condominium developers and general contractors became bankrupt. Some dealers’ transaction price is lower than before especially for hot rolled and pickling steel. However, the supply side pressure continues when POSCO and China Steel Corporation increased the selling price by 13,000-15,000 yen per tonne for Japanese market. The import price is more than the price by domestic integrated steel makers.