Cold Finished Bar Market Price is Strong around Tokyo

Cold finished bar market price is starting to shift strong tone at 140,000 yen per tonne with 16 meters diameter and 145,000 yen with 50 millimeters diameter around Tokyo. Because Cold finished bar price for large users is expected to rise, makers and dealers advances their price hike for common steel cold finished bar due to higher material price. Their selling price hike is expected to penetrate until the last half of July or the first half of August.Maker source said dealers’ resistance is weak compared with large users’ resistance. Dealers are starting the price negotiation with users and will increase by 5,000 yen per tonne for common steel products.However, the supply and demand isn’t tight. Japanese cold finished bar shipment decreased by 5.3% to 57,777 tonnes in May from a year ago, according to Japan Cold Finished Bar Association. Maker and dealer source said there is no move of speculative demand.