Weak Sheet Steel Price in Tokyo

Sheet steel market price is weak at around 64,000-67,000 yen per tonne for hot rolled flat steel around Tokyo, 65,000-68,000 yen per tonne for pickling steel, 83,000-85,000 yen for cold rolled flat steel, 88,000-91,000 yen for hot-coil-based coated steel and 98,000-101,000 yen for cold-coil-based coated steel.

Some transaction is below 55,000 yen for hot rolled flat steel and below 70,000 yen for cold rolled flat steel. A dealer source said users’ order volume has increased slightly after late March. However, automobile and electronics appliance industries are still adjusting the inventory.

Some dealers expect the market price could hit the bottom soon. Dealers and coil centers are afraid of worse profitability in fiscal 2009 started in April.

Japanese steel sheet inventory decreased at the end of February. Inventory adjustment seems to have progressed. Some dealers are trying to keep the selling price.