Firm Sheet Steel Price in Tokyo

Sheet steel market price is firm at around 90,000-92,000 yen per tonne for hot rolled flat steel, at around 92,000-93,000 yen for pickling steel and at around 96,000-98,000 yen for cold rolled flat steel around Tokyo. The price is likely to increase more with pressure by supply side when integrated steel makers increase the selling price. The market price is accelerated to increase since February. The dealers try to seek higher reselling price when Tokyo Steel Manufacturing announced 15,000 yen per tonne hike for hot rolled coil and 17,000 yen hike for pickling coil and hot dip galvanizing coil for April order. The tight supply supports the higher price under strong demand for automobile. However, the inventory building demand is peaking recently while the buyers try to increase the import under less availability of domestic materials. With the negative factors, the price move could be slower than before.