wednesday, May 18,
Japan’s biggest maker of construction steel, Nippon Steel Corp looks to keep its May prices steady for H-beam steel used in construction sector.* The prices remain same for a second straight month.
The market was closely watching if Nippon Steel would lower its prices after smaller rival Tokyo Steel Manufacturing Co on Monday announced a bigger-than-expected 6.2 percent cut in H-beam prices for June shipments to cope with softening demand and to head off imports.
Analysts say the market is weak. There have been some cancellations of construction projects as companies are reviewing plant locations and quake-resistance design after the March 11 earthquake or putting off projects in anticipation of a decline in prices.
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