Strong Plate Price in Tokyo

Plate steel market price increased to 88,000 yen per tonne for base size with 19 millimeters thick, 5 feet width and 10 feet length around Tokyo, which is likely to more rise.Dealers raised their reselling prices by 2,000-3,000 yen per tonne at the beginning of February. They aim to raise the reselling price step by step when makers are likely to raise the selling price for dealers. Dealers also increased the reselling price for cut plate by 2,000-3,000 yen to 105,000 yen per tonne.The demand is strong for shipbuilding, construction machinery and industrial machinery while weak in dealers’ market mainly for building materials. Makers’ supply is decreasing for dealers. Some shearing processors can procure plate at only 70% quantity against the required volume. The market price is expected to rise due to short supply.