Flat Steel Bar Price Declines in Tokyo

Flat steel bar market price is weak at around 97,000-98,000 yen per tonne for 6 millimeters thick and 50 mm width products at dealers’ site without freight around Tokyo. Flat bar makers are likely to set the selling price unchanged for June contracts but the users are requesting the price cut under low demand. The users offer makers to decrease the selling price to below 90,000 yen. The market price is expected to maintain downward.

Dealers’ inventory keeps flat this month compared with the end of April. Dealers’ shipment volume per day increased by 5% this month from April but the order receipts kept low for industrial machines and construction machines.

Wide flat bar price is decreasing when plate price is dropping. Some users seem to shift to cut processed plate when most dealers show stances to sustain the reselling price. Electric furnaces’ ferrous scrap purchasing price increased. However, some dealers are accepting the price cut requests from users.