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Tokyo Steel Keeps Product Prices Steady in September

Steel News - Published on Tue, 20 Aug 2019

Image Source: Business Recorder
Reuters reported that Tokyo Steel Manufacturing Co Ltd, Japan’s top electric-arc furnace steelmaker, would hold its steel product prices steady in September because of high inventories at home and a weaker overseas market. That is the second month the company has kept prices unchanged for all its steel products, including its main H-shaped beams. For September, prices for steel bars, including rebar, will remain at 64,000 yen (USD 602) a tonne, while H-shaped beams will stay at 85,000 yen (USD 780) a tonne. Tokyo Steel Managing Director Kiyoshi Imamura told reporters at a briefing that “Domestic supply flow has been slow due to the summer holiday season, but local inventories have started to come down slowly.”

He added that “We expect local demand to pick up in the October-March second-half, although it may take some time to see a further reduction in local stockpiles.”

Mr Imamura added that overseas demand, meanwhile, is expected to stay flat, with the prolonged US-China trade row and intensifying geographical and political risks in some areas.

Source :

Posted By : Sanju Moirangthem on Tue, 20 Aug 2019
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