Steel Sheet Price Decreases by 1,000-3,000 yen/t in Tokyo

Steel sheet market price decreased by 1,000-3,000 yen per tonne around Tokyo this week. The price decreased due to steel selling price reduction for September order by Tokyo Steel Manufacturing and price competition under slow demand.

The market price is 64,000-66,000 yen per tonne for hot rolled steel sheet, 69,000-72,000 yen for cold rolled sheet, 89,000-91,000 yen for hot rolled based electrogalvanized steel, 99,000-101,000 yen for cold rolled based galvanized steel and 89,000-91,000 yen for hot dip galvanized steel.

The price reduction by Tokyo Steel had an impact on the dealers when the dealers tried to increase lower transaction price. One dealer source sees the dealers loose the money based on the cost price of hot rolled steel sheet excluding Tokyo Steel’s material and imported material.

Dealers see the demand increase in and after October except for hot rolled steel when automobile makers increase the output from last year level. However, the market price would decrease in September.