Higher Sheet Steel Price in Tokyo

Sheet steel market price increased by 2,000 yen per tonne around Tokyo in the month. The price reach 95,000 yen per tonne for hot rolled flat steel, 99,000 yen for pickling steel and 102,000 yen for cold rolled flat steel with leveler process. The price could reach 100,000 yen for hot rolled products when the dealers try to increase the reselling price preparing for potential additional hike by makers. Japanese integrated steel makers are expected to increase the sheet price additional to cover higher cost for raw materials even after the 20,000 yen per tonne hike for April shipment. Some makers already noticed around 10,000 yen of additional hike for contract users. The dealers and processors try to increase the reselling price to secure profitability. The price increases with support by strong demand for automobile. However, the demand is still slow for building and construction market. Such dealers could have trouble to increase the price more.