Firm Angle, Channel Price in Tokyo

Market price of equal angle is firm at around 95,000 yen per tonne for product with 6 millimeters thick and 50 mm width around Tokyo. Channel price is around 100,000 yen for product with 5 mm thick, 50 by 100 widths. Some dealers increased the offer to 98,000 yen for angle and to 103,000 yen for channel in the week. The price could increase more when the makers try o cover higher raw materials cost and the dealers report some stock out sizes in their inventory. The dealers expect the makers would increase the price by around 5,000 yen per tonne to cover higher ferrous scrap cost. The dealers try to increase the reselling price to profitable level before the makers announce another hike. The dealers are confident for the higher price with pressure by supply side and tighter supply. The dealers said the channel inventory is thinner with some stock out sizes. The supply could keep tight when the makers keep low level order receipt from the dealers and keep smaller order backlog.