Flat Angle, Channel Price in Tokyo

Angle steel market price is flat at 75,000-77,000 yen per tonne for products with 6 millimeters thick and 65 mm width around Tokyo. Channel price is 81,000-83,000 yen. The dealers’ shipment is still slow even in the demand season of October when building activity is very slow due to transition process to new building standard law. The price could stay the level though the dealers try to find the way to pass the higher cost price after makers’ hike. Ferrous scrap market price is weak but scrap dealers expect the scrap price could increase to 40,000-42,000 yen per tonne for H2 grade toward 2008. Angle and channel makers could increase the selling price again to cover higher raw materials cost. The dealers try to pass the higher cost price on the reselling price but they cannot realize higher price under the very slow market.