Japan: Tokyo Steel Keeps Steel Prices Unaltered for 9th Straight Month
Mining News Pro - Tokyo Steel Manufacturing Co Ltd - Japan’s top electric-arc furnace steelmaker has kept steel prices unchanged for past 9 months amid increased supply and low demand. Prior to this, company increased steel prices by Yen 2000/MT for the month of Feb deliveries.
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According to Mining News Pro -Tokyo Steel Manufacturing Co Ltd - Japan’s top electric-arc furnace steelmaker has kept steel prices unchanged for past 9 months amid increased supply and low demand. Prior to this, company increased steel prices by Yen 2000/MT for the month of Feb deliveries.

However HRC export prices have come down to USD 600-620/MT FoB against USD 630-650/MT a month back. Amid decline in global flat steel prices, mills have reduced their export offers.

In the month of October total production stood at 250,000 MT. Out of total production, H- shaped steel was 105,000 MT and hot rolled coils was 110,000 MT and plates of 40,000 MT with export quantity around 20,000 MT.

Regarding domestic market conditions, Imamura Managing Director highlighted in the annual press conference,”Overseas steel markets have also come under pressure amid concerns over growing political risk in light of escalating U.S.-China trade tensions.

Meanwhile domestic demand for steel bars and beams as well as for heavy plates continued to be solid, but inventory level of steel sheets remained high over delays in shipment because of bad weather,”.

Further he added that the domestic market is expected to continue to be busy for construction and manufacturing, supply shortage due to insufficient processing capacity for construction, and disruption such as delay in construction will continue for a while. In line with this, stock in the market is still tight.

Meanwhile upcoming production cuts in China may result to short supply and overseas markets will remain volatile over USA - China trade restrictions in turn resulting to weaker prices.

Japanese scrap prices still trading high compared to other origins- Tokyo Steel’s H2 scrap prices stand at JPY 39,000/MT for Western Japan plant, Kyushu. While prices at largest plant Tahara in central Japan and Takamatsu steel center in Southern Japan now stand at JPY 38,000/MT while bids for the same grade remained at JPY 37,500/MT for its Utsunomiya plant.

Tokyo Steel Manufacturing Steel prices for Dec’ 18 Deliveries are

Particulars

Prices

Re-bar

69,000Yen

Hsectionsteel

89,000Yen

StripedHshapedsteel

90,000Yen

IshapeSteel

91,000Yen

HotCoil

74,000Yen

StripsCoils

77,000Yen

HotDipgalvanizedcoil

98,000Yen

HotRolledSteelsheet

79,000Yen

HRcoilsFoB

USD600-620/MT

HsectionSteelFoB

USD670-680/MT


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