Tokyo Steel to reduce H beam and HR coil prices

Tokyo Steel to reduce H beam and HR coil prices

Japanese steelmaker Tokyo Steel Manufacturing announced yesterday that it would reduce sales prices of all its products, except for rebar and wire rod, by Yen 2'000-3'000 ($17-26) per ton, effective for November orders. Tokyo Steel announced a price reduction of Yen 3'000 ($26) per ton for H beams, which marks the first price reduction for the subject product in the last four months. With this reduction, the sales price of H beams will be Yen 67'000 ($579) per ton. Moreover, the price of hot rolled coils will be reduced by Yen 3'000 to Yen 56'000 ($484) per ton. The company indicated that the gap between its prices and international prices necessitated such reductions.