Wholesalers to Increase Steel Sheet Reselling Price

Japanese steel sheet dealers are trying to raise the selling price around Tokyo when imported hot rolled steel coil price is increasing, dealers’ profit was red with some month due to decreased market price, integrated steel makers may raise the selling price of hot rolled steel coil due to higher material price in fiscal 2008. Coil centers or dealers are expected to more raise the selling price due to strong critical feeling.The demand for automobile or flat-screen television is strong. Coil centers’ processing volume achieved highest at 1.679 million tonnes in October, according to Japan Coil Center Association. Integrated steel makers keep full operation when automobile makers are increasing production month by month compared with the production plan due to strong export.While the demand for dealer keeps slow due to the revision of Japanese building standard law or integrated purchasing by major users. Dealer source said the demand increased in October instantaneously but decreased after November again.Integrated steel makers are mulling the price hike due to the perspective of increasing material price in fiscal 2008. Bao Steel, Chinese major steel maker, increased the selling g price of hot rolled steel coil by 300 Yuan or about US$ 50 per tonne for the shipping in January-March, Wuhan Iron & Steel, Chinese major steel maker, increased the selling price by 400 Yuan or about US$ 55, China Steel, Taiwanese biggest steel maker, increased 700 Taiwanese Yuan or over US$ 20. They are expected to raise the selling g price after April 2008. Japanese steel makers are expected to reconsider the selling price for domestic market.