Common steel Nail Price keeps Flat in Tokyo

The market price of common steel nail keeps flat at 98,000 yen per tonne with 4 inches of length and 100 millimeters of diameter around Tokyo. The shipment is low at dealers even in demand season of autumn due to less house construction and public investment.Drawing makers and dealers aim to raise their selling prices for common steel nail when they cannot gain enough profits. Japanese wire rod makers raised their selling prices last spring. However, drawing makers and dealers could not pass the increasing cost price on the reselling prices yet.The market price is difficult to rise with low demand and large market share of cheaper nails which were processed from wire rod imported mainly from China. Import keeps increasing for not only wire rod but also nails. On the other hand, dealer sources say the shipment is recovering. The nail makers are likely to raise the selling price after the supply becomes tighter and the inflow of imported products decreases.