Mid-sized Plate Price Increases by 1,000 y/t around Tokyo

Mid-sized plate market price increased by 1,000 yen per tonne in this week from last week around Tokyo. Coil centers and dealers raised their selling price. However, it is clouded prospects due to slower dealers’ shipment influenced the revision of building standard law. The market price is 68,000-69,000 yen per tonne with cutting by leveler. Coil centers have sold at around 67,000 yen until September. POSCO and China Steel reduced the export volume to Japan and raised the selling price by degrees. Japanese makers are reducing the acceptance of order though Japanese steel makers’ selling price is flat. The demand is starting to realize because big building projects is increasing in Tokyo. Dealers expect the supply and demand would be tight and are increasing the selling price by 2,000-3,000 yen per tonne from this month. Dealers’ shipment is slow. Major coil center source said his firm can’t hold the profit due to the higher purchasing price. Coil centers and dealers keep in step for the price hike. The market price is expected to slowly rise.