Plate Price Hits 100,000 yen/t in Tokyo

Plate steel market price reached 100,000 yen per tonne in Tokyo in the week. The buyers cannot purchase at less than 100,000 yen now after the dealers increased the reselling price by 3,000-5,000 yen. The price could increase more when some dealers offer 105,000 yen. Nippon Steel increases the selling price by 20,000 yen per tonne for distributors for April shipment and other makers could follow the move. Tokyo Steel Manufacturing increased the price by 12,000 yen to 102,000 yen per tonne for March order. The dealers try to increase the reselling price gradually to secure profit even after the wide price hike. They try to hold the inventory when they anticipate potential tighter supply despite of slower demand for building when Nippon Steel and other makers reduce the supply for distributors. The market price is not enough for distributors when the cost price would increase to around 100,000 yen per tonne. The dealers try to increase the reselling price toward 105,000-108,000 yen level to secure the profitability.