Firm Plate Price in Tokyo

Mid-sized plate price is firm at 66,000-68,000 yen per tonne around Tokyo. The price is expected to keep firm when hot, cold and coated sheet inventory decreased to less than 4 million tonnes and the sheet market price shows sign to increase. The price increased by 2,000 yen per tonne after the distributors and processors tried to increase the reselling price since the beginning of November. Tokyo Steel Manufacturing’s price hike also lifted the price along with distributors’ effort. The demand is improving for construction materials while the demand keeps firm for construction and industrial machinery. The distributors have stock out sizes. The supply of plate with 9-12 millimeters thick and wider size range is getting tighter under tight supply of plate mill products. The distributors try to increase the reselling price more. Some distributors try to increase the lower price to more than 67,000 yen per tonne, which is official price of Tokyo Steel.