Japanese steel producer Tokyo Steel has decided to leave prices for most of its products unchanged in June, following a sharp increase last month. Only heavy plate prices in the local market will be increased, the producer said.
Prices for heavy plates have been settled at JPY 107,000/mt ($973/mt) ex-works, up by JPY 5,000/mt ($45/mt) from last month. Other flat steel products prices have been rolled over: for instance, the price level for HRC with thickness above 1.7 mm has remained at JPY 110,000/mt ($1,000/mt) ex-works.
“Domestic and overseas steelmakers have been raising prices rapidly. The supply allocation of each manufacturer is extremely low and the supply-demand balance will continue to be tight,” Tokyo Steel stated, adding that the company will consider a price change next month, when the previous hike will be fully absorbed by the market. As SteelOrbis reported earlier, in May Tokyo Steel hiked HRC prices by JPY 16,000/mt or $145/mt.
Rebar prices from Tokyo Steel are still at JPY 83,000/mt ($755/mt) ex-works, while prices for H-beam have remained at JPY 103,000/mt ($937/mt) ex-works. The long steel market in Japan is expected to be firm in June as “construction works related to the manufacturing industry and commercial facilities have started to increase, and steelmakers will reduce production in the summer,” Tokyo Steel said.
$1 = JPY 109.96
