Company has kept its steel prices unchanged for 4th consecutive months over shortage of labour and weak demand in domestic market.
Tokyo Steel Manufacturing Co. Ltd- Japan’s leading top electric-arc furnace has announced its steel prices today.Company has kept its steel prices steady for the 4th consecutive month amid lackluster demand in domestic market.
Thus rebar prices continued to remain stable at Yen 69,000/MT and H beam prices at Yen 89,000/MT for April deliveries.
Kiyoshi Imamura, Tokyo Steel’s Managing director said, “Domestic demand in construction sector remains a bit sluggish due to higher inventories and delays in some projects because of shortage of labour and some materials.”
Further he added that, global steel prices have started recovering post Chinese Lunar New year holidays.
Tokyo Steel scrap prices- So far in the month, the company has raised scrap purchase prices four times in Mar’19 amid tight supply and demand situation while Okayama plant has registered 12th successive price hike since mid-Feb’19.
With the recent hike, the company will pay JPY 35,000/MT for H2 scrap delivered to Utsunomiya plant in the Kanto region, Tahara in the central area and Kyushu in western Japan. While revised H2 price stands JPY 33,000/MT at Okayama and JPY 31,000/MT at Takamatsu steel center.
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