Weak Angle, Channel Price in Tokyo

Angle steel market price is weak at 123,000 yen per tonne for product with 6 millimeters thick and 50 mm width without freight at dealers’ site around Tokyo. Channel steel is weak at 128,000 yen for product with 5 mm thick, 50 by 100 mm width. The market price changed being weak tone when ferrous scrap market price fell below 50000 yen per tonne and Tokyo Steel Manufacturing, Japanese biggest maker, decreases channel selling. Dealers’ inventory is increasing. Especially, the supply and demand for equal angle steel is becoming loose in all size. Dealers7 shipping is expected to decrease by about 18% in August from July. Dealers’ warehousing volume is expected to decrease by about 10% in August from July when the volume largely increased in July. Dealers intended to pass increasing purchase price on selling price at 3,000 yen per tonne while missed the timing to raise selling price. Makers maintain selling price for the adjustment of the supply and demand, which keep market price by the restricted supply for the same level of last month. Users are requesting the price cut to dealers due to decreased ferrous scrap price.