Firm Sheet Steel Price in Tokyo

Sheet steel market price is firm at around 102,000-104,000 yen per tonne for hot rolled flat steel, at 106,000-108,000 for pickling steel and at 110,000-113,000 yen for cold rolled flat steel at dealers’ site around Tokyo. The price is likely to keeps firm under tight supply and higher international price. The dealers’ shipment is still slow after speculative temporally demand. However, the market expects higher price after integrated steel makers announced 10,000 yen per tonne of additional hike for July shipment and Tokyo Steel Manufacturing increased the selling price by 10,000 yen to 115,000 yen for hot coil for June order. Nippon Steel succeeded to settle hot coil export price at FOB US$ 1,000 per tonne for South Korean rerollers for July-September. The dealers try to pass higher cost price on the market with higher domestic and import steel price. However, they are cautious about solvency of the users with the sharp rising steel price.