Japan: Tokyo Steel Rolls Over Steel Price for 5th Consecutive Month

Tokyo Steel Manufacturing Co Ltd, Japan’s top electric-arc furnace steelmaker has kept steel prices stable for July deliveries. This is the fifth consecutive month that the company has kept prices stable after announcing price hike of Yen 2000/MT for Feb deliveries

Out of total production, H- shaped steel was 1,00,000 MT and hot rolled coils was 1,10,000 MT, thick plate was 10,000 MT.

Imamura Managing Director highlighted in the annual press conference,”The overseas market is in a state of confusion against protection and trade policies that originate from the United States Trade Expansion Law, Article 232, but the worldwide demand for steel products continues to be strong.Local steel demand remains solid in all segments including construction, automobiles and machinery.”

Further he added, supply and demand factors continued to remain tight.However owing to processing capacity and labour shortage the pace of work was affected and thus rise in market prices remained ineffective. Company has raised the prices five times by the end of last year to the beginning of this year. However further planning to increase the prices is delayed as the penetration of prices in the market remain inadequate.

He expects an improvement in the market going forward amid low inventory levels and strong demand.

Tokyo Steel Manufacturing Steel prices for July’ 18 Deliveries are-

Source-SteelMint,Iru Miru
~Inputs from Iru Miru