According to sources, Tokyo Steel Manufacturing Co Ltd, has announced that it will hold steel product prices stable into January 2019 amid global and domestic market factors. While demand is reportedly strong domestically, due to fluctuations in scrap prices and sufficient inventories, an increase in prices was not warranted.
Prices for steel rebar will reportedly remain at JPY 69,000/mt ($612/mt) ex-mill, while the company’s main product, H-shaped beams, will remain at JPY 89,000/mt ($789/mt) ex-mill. The last price increase was implemented in February 2018.
USD = 112.76 (Dec 17)