Japan Sheet Steel Price Regains Buoyancy

Japanese sheet steel market regains buoyancy after temporally peak out in early April. The price increased by 1,000-2,000 yen per tonne and some spot transaction price hit 100,000 yen per tonne for hot rolled flat steel in the week. The distributors try to increase the reselling price when Tokyo Steel Manufacturing increased the price by 12,000 yen per tonne for May order and integrated steel makers are expected to increase the price by around 10,000 yen for June shipment. The market price is around 96,000-98,000 yen per tonne for hot rolled flat steel, 100,000-102,000 yen for pickling steel and 104,000-106,000 yen for cold rolled flat steel at the dealers’ reselling price around Tokyo. The dealers try to increase the reselling price despite of slower demand for building and appliances when the supply is tight due to strong demand for automobile and export. The dealers reported thinner inventory for pickling steel and cold rolled flat steel. Some dealers try to seek offshore alternative sources but they hesitate due to higher price.