Tokyo Steel Manufacturing Co Ltd - Japan’s top electric-arc furnace steelmaker have announced their latest steel prices today i.e on 20th Aug’18 at Takeike Sanno Tokyo office.

The company has kept steel prices unchanged for September deliveries.This is for seventh consecutive month that prices have remained unchanged as the steel maker had raised prices by Yen 2000/MT for Feb deliveries.

Imamura Managing Executive officer highlighted in the annual press conference regarding market overview is,”In overseas markets, demand is running well,but there is uncertainty about the future due to the movement of protection trade in each country and the depreciation of Turkish currency -Lira”.

Further he added that, demand and supply has been favorable. However despite strong market and increased electrode prices company has still kept prices of all kinds of products stable.

Tokyo Steel production numbers for August - In the month of August total production stood at 220,000 MT. Out of total production H- shaped steel was 90,000 MT and hot rolled coils was 100,000 MT and plates of 10,000 MT with export quantity around 40,000 MT.

Tokyo Steel Manufacturing Steel prices for Sep’18 Deliveries are-

~Inputs from Iru Miru

Outlook for Chinese steel prices - On Chinese market conditions, he shared that owing to recent steel production cuts announced in China, it seems difficult to say that prices will collapse in near future.

Tokyo Steel raised scrap purchase price in August - In its price revision announced on 17 Aug’18, Tokyo Steel raised scrap purchase prices by Yen 1000-1500/MT. Tokyo Steel fetches H2 scrap at JPY 37,000/MT for its Kanto region based works i.e. Utsunomiya and at JPY 36,500/MT for largest works in central Japan-Tahara. After this price hike, bids for the same grade has increased to JPY 35,500/MT levels at Kyushu plant and JPY 35,000/MT at Okayama works in Western Japan while for its Takamatsu Steel Center company keeps bids at JPY 34,500/MT in Southern Japan.

Earlier to this, on 09th August, Tokyo Steel increased prices at Utsunomiya and Tahara plant by JPY 500/MT and by JPY 1000/MT at other three western Japan based works.

Thus overseas conditions and cost increase factors will draw attention whether to raise prices once more during the current fiscal year.