Sheet Steel Price Drops by 1,000 yen/t in Tokyo

Sheet steel market price decreased by 1,000 yen per tonne for hot rolled flat steel and pickling steel around Tokyo. The price decreased under easing supply balance in the distributors’ market and slower demand for machinery and automobile after 12,000 yen price down by Tokyo Steel Manufacturing and plunge of ferrous scrap price.The price is 102,000-104,000 yen per tonne for hot rolled flat steel, 107,000-109,000 yen for pickling steel and 111,000-114,000 yen for cold rolled flat steel. The dealers see the supply balance gets easier recently. They try to keep the reselling price level when they are getting high priced materials from integrated steel makers after the makers increased the price by 10,000 yen per tonne for July shipment. However, they are loosing the foothold under weakened mood.