Weak Steel Sheet Market Price around Tokyo

Steel sheet market price is edging downward around Tokyo to reflect raw material price down and anxiety for demand decline along car output decrease related to flood in Thailand. Moreover, cheaper import products are increasing when yen exchange rate maintains extremely strong. The market price is 62,000-63,000 yen per tonne at coil centers’ reselling price for hot rolled sheet.

Tokyo Steel Manufacturing, Japanese largest electric furnace steel maker, lowered its sales price of steel sheet by 5,000 yen per tonne in November. Tokyo Steel Manufacturing explained the firm adjusted the selling price lower when offshore market price was cheaper than Japanese market price. After the price revision, users lowered their offer prices by 2,000-3,000 yen. Major steel dealers resisted against the price down when inventory purchasing prices are surging. However, some dealers seem to have approved price cut offers and to have suggested near 60,000 yen at cheapest.

Japanese integrated steel makers have raised steel sheet sales price for April-June and July-September step by step. Many dealers seem to have high-cost inventories unprofitable at present reselling price.