Firm Sheet Steel Price in Tokyo

Sheet steel market price is firm at 66,000-68,000 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 sheet around Tokyo. The price is likely to keep firm under tight supply.The national stock of hot, cold and coated sheet keeps less than 4 million tonnes despite of increase to 3.89 million tonnes at the end of December. The supply is tight when distributors have some stock out sizes. The demand keeps high level for automobile while the demand is firm for industrial machinery and construction demand also recovers. The demand is expected to keep high and the makers expect they can keep the high level output. The supply is likely to keep tight with lower import level though some items’ supply is still easier. Tokyo Steel Manufacturing, which is major supplier of hot rolled flat steel for distributors’ market, increased the hot rolled steel selling price by 3,000 yen per tonne for February shipment. The distributors try to increase the reselling price to cover the higher cost price.