Tokyo Steel Manufacturing Co. Ltd- Japan’s leading electric-arc furnace yesterday announced finished steel prices for August deliveries. Company has kept its finished steel prices unchanged for upcoming month over firm demand in domestic market since autumn season.
Thus H shaped steel prices is hovering at Yen 85,000/MT and the prices of hot rolled coils is stood at Yen 69,000/MT for August deliveries remain unchanged from previous month. Also prices of deformed bars stood at Yen 64,000/MT and Yen 79,000/MT for Thick plates.
Meanwhile company’s export offers for Hot rolled coils is around USD 530-550/MT and for H-sections export offers is around USD 650-670/MT FoB basis.
However last month company slashed finished steel prices by Yen 3,000 – 5,000/MT for July deliveries. The company has reduced its steel prices after keeping its steady since last five consecutive months of CY19.
Kiyoshi Imamura, Tokyo Steel’s Managing director commented that, “The demand-supply balance has improved in summer, and the market conditions are expected to go up. While manufacturing costs have remained high, but he said that he would keep selling prices in consideration of the actual conditions in the market.”
Further he added that, improvement in construction activities with elimination of shortage of high strength bolts coupled with improvement in movement of cargoes have strengthened demand from the beginning of autumn season in domestic market.
Meanwhile he also mentioned that nation’s major steel manufacturers are adjusting the inventory levels in domestic market by actively exporting to overseas markets.
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