Sheet Steel Price is Rising in Tokyo

Sheet steel market price is rising around Tokyo. Dealers and coil centers raised the selling price when Tokyo Steel Manufacturing increased the selling price of steel sheet by 7,000 yen per tonne for the contract in March. The market price increased by 1,000 yen to 76,000 yen per tonne for hot rolled sheet, to 79,000 yen for pickling steel and at 85,000 yen for cold rolled sheet from last week around Tokyo. The market price increased by 5000-6000 yen per tonne from the beginning of this year.Japanese integrated steel makers are expected to confirm price hike stance when iron ore price negotiation between the makers and material supplier in Brazil increased by 65% in fiscal 2008 at the ended of March 2009 from fiscal, which to request the price hike to all users such as automobile, electric-appliance or re-roll makers. Makers’ price hike for all users are pushing dealers’ price hike. Dealer source said middle-thick sheet price may rise to over 80,000 yen per tonne in near future.Speculative demand is increasing to rural dealers or secondary dealers. However, coil center or dealer source they are would like to sell carefully.