Firm Sheet Steel Price in Tokyo

Steel sheet price is firm at 68,000-70,000 yen per tonne for hot rolled flat steel, 74,000-76,000 yen for pickling steel and 80,000-82,000 yen for cold rolled steel around Tokyo. The price is likely to keep firm under tight supply, mainly for hot rolled steel. Domestic integrated steel makers consider price hike for April after Tokyo Steel Manufacturing announced 2,000 yen per tonne hike for March order to cover higher ferrous scrap cost. With the pressure, the distributors try to increase the reselling price. Major trading firms and coil centers increase the selling price gradually. The demand keeps high level for automobile while the demand is firm for industrial machinery and appliances. A trading firm source said the distributors’ market is till slower than expected due to central purchase by major users. However, the total sheet steel demand is firm.