According to a Reuters report, Tokyo Steel decreased the prices on longs products three months ago, and now for the second month in a row has announced that prices would be carried over month-on-month. Tokyo Steel Managing Director Kiyoshi Imamura stated that the prices would remain steady in September due to high domestic inventories and a weaker export market. Imamura added that exports are expected to remain flat while domestic demand is expected to increase in the October-March period.
For September, prices for steel bars, including rebar, will reportedly remain at JPY 64,000/mt ($600/mt), while H-shaped beams will stay at JPY 85,000/mt ($797/mt), both ex-mill. Compared to earlier in the summer in May, for example, prices have declined $27/mt on rebar and $12/mt on H-beams.
A source noted to SteelOrbis that the stable pricing in finished steel should influence relatively stable pricing for domestic scrap purchases in the short-term at Tokyo Steel. Scrap price changes by Tokyo Steel greatly influence the general Japanese domestic scrap price movements.