Akira Kozai Cuts Steel Product Prices by 3,000-5,000 Yen/t

Akira Kozai, a major steel dealer around Nagoya, Japan, decreased its reselling prices of rebar, H-beam, angle, channel and steel sheet by 3,000-5,000 yen per tonne on September 25 due to slower demand for steel products and weaker ferrous scrap price. Akira Kozai cuts its reselling prices for the first time since March 2000.A dealer association around Osaka announced the local market price of rebar decreased by 3,000 yen to 110,000-115,000 yen per tonne for base sizes directly delivered from the makers to the users. The contract amount by dealers is decreasing after Japanese summer holiday week in mid August.Flat bar price is weak at 125,000-127,000 yen per tonne. Users’ orders to dealers keep slow. Dealers’ inventory is increasing. Dealers aim to sustain their reselling prices.Equal angle price is around 120,000-123,000 yen per tonne. Dealers’ shipment is slow due to the anticipation for continuous market price down or conservative buying by secondary-third dealers.H-beam price decreased by 2,000 yen to 123,000 yen per tonne Dealers’ sales volume maintains low while dealers’ inventory is increasing.Square pipe market price is 145,000 ye per tonne for STKR and 153,000 yen for BCR. The makers are expected to raise the selling price by 5,000 yen per tonne in November.Steel sheet market price is 123,000 yen per tonne for surface treated products at coil centers’ reselling level, while 113,000 yen for pickled sheet. Dealers’ inventory for cold-rolled steel sheet is relatively short.