According to a recent public announcement, Tokyo Steel Manufacturing, Japan’s top electric-arc furnace steelmaker, is holding all its domestic product prices stable in April. It previously froze product prices in March despite tight markets, higher raw material prices, and rising transportation costs.
Tokyo Steel’s Managing Director, Kiyoshi Imamura, told reporters at a briefing, “While domestic and export markets are strong, we are keeping our prices unchanged next month to make sure our hikes through February have been absorbed by every layer of the market.” He added, “The global steel market may stay volatile for a month or so due to speculative trades resulting from Section 232, but I don’t think it will last for long.” In his opinion, Chinese and Southeast Asian markets will be underpinned by strong demand through the year.