Flat Steel Plate Price in Tokyo

The market price of steel plate is flat at 80,000 yen per tonne for products with 19 millimeters of thick, 5 feet of width and 10 feet of length in Tokyo. The price is likely to keep the price though the market is frustrated under slower demand in construction and distributors market and the middle of inventory adjustment. The demand is slump in the distributors market, which covers mainly for construction application, while the demand keeps firm for manufactures including construction and industrial machinery. A source of mid-sized shearing processor said the market slowed down the activity since mid-January. The market is still watching the progress of the inventory adjustment for commodity grade products. The inventory decreased to 480,000 tonnes at shearing processors at the end of December, representing decreases for 2 months in a row, according to Japan Steel Plate Shearing Industrial Guild. The inventory is still as high as around 200% of the shipment. The adjustment is expected to take more time for the better supply balance though the stock is likely to decrease gradually toward the end of March.