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Tokyo Steel to hold prices steady in March for third month

Steel News - Published on Tue, 19 Feb 2019

Image Source: Business Recorder
Reuters reported that Tokyo Steel Manufacturing Co Ltd, Japan’s top electric-arc furnace steelmaker, would keep its steel product prices steady in March because of a softer overseas market and slow winter demand for local construction. For March, prices for steel bars, including rebar, will remain at JPY 69,000 (USD 624) a tonne while H-shaped beams will also stay at JPY 89,000 (USD 805) a tonne. This is the third straight month the company kept prices unchanged for all of its steel products, including its main H-shaped beams.

Tokyo Steel Managing Director Mr Kiyoshi Imamura told reporters that “Overseas steel market, which had been weighed down by worries over political risks since late last year, seems to be gradually turning around after the Chinese Lunar New Year holiday, while construction demand at home is a bit slow due to seasonal reason. Company is closely watching rising costs including steel scrap, partially influenced by the surging iron ore prices after the collapse of a dam at a mine owned by Brazil’s Vale.”

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Posted By : Ratan Singh on Tue, 19 Feb 2019
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