Japan: Tokyo Steel Keeps Steel Prices Unchanged For Jan’19

Tokyo Steel Manufacturing Co Ltd - Japan’s top electric-arc furnace steelmaker has kept steel prices unchanged owing to softening export offers in overseas nations.

Prior this, last month company increased heavy plate prices by Yen 2000/MT for December deliveries on the backdrop of tight supply and increased demand in construction sector.

Regarding domestic market conditions, Imamura Managing Director highlighted,”Domestic demand remains firm, but we are keeping product prices steady as the overseas steel market has fallen quite sharply,”

Tokyo Steel Scrap Prices- In last one months’ time, the steelmaker observed successive price cuts for domestic scrap resulting in a total price drop of JPY 3000-5500/MT (USD 26-49/MT). Prices at Utsunomiya plant in the Kanto region have come down to more than 1 year’s low. Now, H2 prices stand at JPY 30,500/MT at largest plant, Tahara and JPY 31,500/MT at Utsunomiya plant. Participants expect scrap prices to correct further with no signs of bottom yet.