Weak Steel Plate Price in Tokyo

Plate steel market price is 85,000 yen per tonne for standard sized products with 19 millimeters thick, 5 feet width and 10 feet length at the dealers’ selling price around Tokyo. The price is 96,000-97,000 yen for cut processed plate. The price could decrease more due to slow demand.

Tokyo Steel Manufacturing left the plate price unchanged at 65,000 yen per tonne for February order. With the price freeze, the dealers expect the price could be stable after continuous downward.

The dealers’ market price decreases for domestic products from electric furnace steel makers and integrated steel makers and imports. Tokyo Steel’s move could support the market but the price has no power to rebound.

Some dealers are willing to increase the purchase volume from the makers but many of them are reluctant to increase the volume. A dealer source said lower ferrous scrap price could result in additional lower makers’ selling price. The dealers’ margin could narrow despite of the higher demand for rebuilding activity on the major earthquake.