Flat Market Price of Hot Rolled Steel in Tokyo

Market price of hot rolled steel is flat at 65,000-66,000 yen per tonne for product with 3.2 millimeters thick, 3 feet width and 6 feet length in Tokyo. The market recognizes the price is bottom. The distributors wait positive factors for demand and inventory to increase their re-selling price. Tokyo Steel Manufacturing announced on Monday it left the selling price unchanged for April. The market price is likely to keep the level in March. Hanwa Co. announced the firm increases the re-selling price in Osaka and Nagoya. The distributors in Tokyo also try to find timing to increase the price when domestic integrated steel makers try to keep the higher selling price. The distributors are suffered from the narrower margin with the still high cost price after the decrease of re-selling price. The distributors’ inventory adjustment of hot rolled steel progresses earlier and the market is better position with little import than cold rolled steel and galvanizing steel. The distributors expect their shipment will improve after April when the inventory will decrease more and the market mood turns into increasing stage.