Steel Plate Price Keeps Strong in Tokyo

Steel plate market price is strong at around 115,000 yen per tonne for base size with 19 millimeters thick, 5 feet width and 10 feet length around Tokyo, up by 2,000 yen compared with last week. Cut processed plate market price is around 125,000 yen per tonne.Distributors’ plate shipment is slow for mid- and small-sized construction and civil engineering, though demand for plate keeps strong from large projects. Distributors tried hard to raise plate reselling price in March since integrated steel makers had announced price hike effective in and after April. Plate consumers increased procurement at lower prices in March. Nominal demand seems to settle down in April.Plate supply maintains tight with strong demand from shipbuilding and construction machineries. Inventories of base size plate are especially decreasing at distributors. Makers’ delivery of base size plate takes about 90 days in some cases, longer by about 30 days than before. Some distributors are suffered from stock out. Distributors tend to secure inventories with supply concerns.Wholesalers are likely to raise plate reselling price more when plate makers are expected to increase the selling price again. Plate market price would continue increasing for a while.