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Tokyo Steel keeps product prices unchanged in Feb for second month

Steel News - Published on Tue, 22 Jan 2019

Image Source: SteelGuru
Reuters reported that Japan’s top electric-arc furnace steelmaker Tokyo Steel Manufacturing Co Ltd will hold steel product prices steady in February because of a weaker overseas market. This is the second month the company kept prices unchanged for all of its steel products, including its main H-shaped beams. For February, prices for steel bars, including rebar, will remain at JPY 69,000 (USD 629) a tonne while H-shaped beams will also stay at JPY 89,000 (USD 812) a tonne. Tokyo Steel Managing Director Kiyoshi Imamura told that “We will keep prices steady as the overseas steel market remains relatively weak though we think the prices there are at the bottom zone.”

He said that “Steel markets in China and Southeast Asia may pick up after China’s Lunar New Year holiday referring to the long holiday scheduled for early February when millions of Chinese travel back home for family reunions.”

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Posted By : Ratan Singh on Tue, 22 Jan 2019
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