Japan: Tokyo Steel Keeps Price Unchanged for October Deliveries
Tokyo Steel Manufacturing Co Ltd - Japan’s top electric-arc furnace steelmaker has kept steel prices unchanged for eighth straight month for October deliveries. Last price hike of Yen 2000/MT was made for Feb deliveries.
In the month of September total production stood at 245,000 MT. Out of total production, H- shaped steel was 100,000 MT and hot rolled coils was 1,10,000 MT and plates of 20,000 MT with export quantity around 40,000 MT.
Regarding domestic market conditions, Imamura Managing Director highlighted in the annual press conference,”Overseas steel prices remained firm reflecting vigorous demand, while Japan’s domestic demand continued to be strong in segments such as automobiles, machinery and construction,”.
Further he added that though the company wants to hike prices owing to higher prices of secondary materials such as electrodes, electricity and transportation cost. But it will not keep pace with market sentiments.
Regarding import restrictions of steel in USA from China he added, global steel demand will not be affected much post imposition of tariffs by 25% by USA amid robust demand of steel in China’s domestic market.
Tokyo Steel Manufacturing Steel prices for Oct’ 18 Deliveries are
source: SteelMint
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