Japan: Tokyo Steel Keeps Finished Steel Prices Unchanged for September Deliveries
Tokyo Steel Manufacturing Co. Ltd- Japan’s leading electric-arc furnace announced finished steel prices for September deliveries today. The company has rolled-over prices again for Sep deliveries amid higher inventory level, and lower domestic demand. Meanwhile weaker overseas demand also kept Tokyo steel prices stable for Sep deliveries.
Thus H shaped steel prices is hovering at Yen 85,000/MT and prices of steel bars (including rebars) stood at Yen 64,000/MT.
Meanwhile last month the company had kept its finished steel prices unchanged as demand in domestic market had remained firm since autumn season.
Kiyoshi Imamura, Tokyo Steel’s Managing director commented that, "Domestic supply flow has been slow due to the summer holiday season, but local inventories have started to come down slowly.”
Further he added that, domestic demand will pickup in second half of the year. Meanwhile overseas demand may remain low amid extended US-China trade tension and political and geographical risks prevalent in some countries.
Tokyo steel lowered scrap purchase price in 1st week of Aug- As per price circular released on 06th Aug’19, Japan’s leading EAF mini-mill Tokyo Steel has lowered its scrap purchase price by JPY 500/MT (USD 4.7) and JPY 1000/MT (USD 9.4) at its Okayama plant and Takamatsu Steel Centre respectively, while keeping the prices for the other 3 works unchanged.
source: SteelMint
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