Middle Thick Steel Sheet Market Price Increases in Tokyo

Middle thick steel sheet market price currently increased by 2,000 yen to 64,000-66,000 yen per tonne for products with 3.2 millimeters thick, 3 feet width and 6 feet length around Tokyo. Large traders and processors had tried to raise their selling price this month and achieved the hike thanks to supply tightness. Traders are seeking additional hike by 1,000-2,000 yen per tonne within this year.Orders are increasing for middle thick steel sheet with 9-12 mm thick or 5 feet width when steel plate supply becomes tight due to shipment reduction by integrated steel makers for domestic distributors. Middle thick sheet supply is tightening due to import decrease. Consequently coil centers and distributors raised their selling price in November.Coil centers and distributors show strong stances in the hike despite unwillingness at some users because wholesalers are suffering from worse profitability. Another factor is that Tokyo Steel Manufacturing increased the selling price of hot rolled steel sheet by 2,000 yen per tonne for December contracts.The market price is expected to keep increasing for a while.