Strong Shape Steel Price in Tokyo

Angle and channel steel market price increased by 1,000 yen per tonne over the previous week around Tokyo. Angle price increased to over 77,000 yen per tonne without freight for product and channel price increased to over 83,000 yen. Dealers increased the price hike when the inventory products price increased by the material price hike which makers increased by 5,000 yen in August and September 2007 and makers may increase the selling price in near future by increased ferrous scrap price. Dealers will more raise the selling price.The building demand is very slow due to transition process for new building standard law. However, dealers’ inventory decreased by the reduced production of makers. The inventory adjustment pulled up the market price.Ferrous scrap price keeps strong tone after the beginning of this year from December 2007. Dealers forecast makers would raise the selling price in near future, which are keen to more increase the selling price.