Tokyo Steel Manufacturing Co Ltd – Japan’s top electric-arc furnace steelmaker has kept steel prices unchanged owing to softening export offers in overseas nations.
Prior this, last month company increased heavy plate prices by Yen 2000/MT for December deliveries on the backdrop of tight supply and increased demand in construction sector.
Regarding domestic market conditions, Imamura Managing Director highlighted,”Domestic demand remains firm, but we are keeping product prices steady as the overseas steel market has fallen quite sharply,”
Tokyo Steel Manufacturing Steel prices for January contract are
| Particulars | Prices |
| Re-bar | 69,000 Yen |
| Plates | 83,000 Yen |
| H section steel | 89,000 Yen |
| Striped H shaped steel | 99,000 Yen |
| I shape Steel | 91,000 Yen |
| Hot Coil | 74,000 Yen |
| Strips Coils | 77,000 Yen |
| Hot Dip galvanized coil | 98,000 Yen |
| Hot Rolled Steel sheet | 79,000 Yen |
Source- SteelMint Research
Tokyo Steel Scrap Prices- In last one months’ time, the steelmaker observed successive price cuts for domestic scrap resulting in a total price drop of JPY 3000-5500/MT (USD 26-49/MT). Prices at Utsunomiya plant in the Kanto region have come down to more than 1 year’s low. Now, H2 prices stand at JPY 30,500/MT at largest plant, Tahara and JPY 31,500/MT at Utsunomiya plant. Participants expect scrap prices to correct further with no signs of bottom yet.
~Inputs from Iru Miru
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