August 22, 2008

Flat product prices hit record levels in Tokyo

JMB reported that sheet market price hits record around Tokyo. As per report the price reached JPY 90,000 per tonne for hot rolled coisl, to JPY 92,000 for pickled steel and JPY 96,000 for cold rolled coils.

The dealers try to increase the reselling price after integrated steel makers announced JPY 20,000 per tonne hike for April shipment. The market shows sign of uncertainty when the buyers built certain inventory before the hike and the import is increasing.