Japan Angle, Channel, Flat Bar Drops by 3,000 yen/t

Shapes market price decreased by 3,000 yen to 72,000 yen per tonne for equal angle and to 77,000 yen for channel around Osaka. Flat bar market price decreased by 3,000 yen to 95,000 yen around Tokyo. The market price could decrease more due to pressure from the buyers under very slow domestic construction activity.

The price drop was total 23,000 yen per tonne for angle and channel in the year around Osaka. The channel price decreased to less than 80,000 yen for the first time since September 2007. The buyers market could reduce the market price more while the supply is balanced after inventory adjustment by the dealers.

The flat bar price started to decrease in the week around Tokyo. The price is likely to decrease more when some transaction is already as low as 90,000 yen per tonne level. The price is expected to keep weak due to very slow construction market while the dealers’ already finished inventory adjustment.