Firm Angle and Channel Price in Tokyo

Equal angle market price is 74,000 yen per tonne for product with 6 millimeters thick and 50 mm width around Tokyo. Channel price is 80,000 yen for product with 5 mm thick and 50 by 100 mm width. Shape steel makers are expected to keep their selling price unchanged for April contracts despite of increasing ferrous scrap price.Dealers intend to raise their reselling price to approximately 75,000 yen per tonne for base sized equal angle within this month after the makers raised the selling price in January and March.Dealers’ inventory is increasing due to less order receptions and constant product arrivals from makers. Many dealer sources hope less market inventory and less order reception by the makers. The dealers pay attentions to the makers’ price hike which would be announced within few days.