Weak Hot Rolled Sheet Price in Tokyo

Hot rolled steel sheet market price would decrease from 60,000-61,000 yen per tonne for base size around Tokyo. However, one major market sources see the price may not decline when Tokyo Steel Manufacturing left the price unchanged for December order.

The demand bottomed out for construction machinery and industrial machine. However, the dealers’ shipment is around 50% compared with the peak. The shipment for construction remains low and would not recover soon when mid-and small-sized condominium demand does not recover.

Market sources are concerned about price cut by Chinese makers. Chinese makers sell the excess inventory at lower price before the closing in the financial year.

Japanese coil centers and dealers aim to keep the current price while some firms returned to the profitability since September and October. However, one dealer source said the price seems to decrease around Osaka.