Weak Steel Plate Market in Tokyo

Plate steel market price is weak at around 105,000-110,000 yen per tonne for standard size with 19 millimeters thick, 5 feet width and 10 feet length while the cut processed plate is 110,000-120,000 yen around Tokyo. Dealers’ shipment maintains significantly slow due to low demand. Plate market price had sharply plunged by early April. The price drop settled down but the demand is unlikely to recover soon.

There are few new building construction plans. Plate makers continue output reduction for construction machine and industrial machine makers. Shearing processors’ operation rate keeps low for construction machines.

Dealers’ inventory rate keeps the high level. Dealers hold high price inventory while lower the reselling price to reduce inventories.

Tokyo Steel Manufacturing set its plate selling price unchanged at 65,000 yen per tonne for May contracts. However, the price is still high against the dealers’ reselling price level. Plate maker’s selling price is expected to decrease.