One of the leading Japanese steel producers Tokyo Steel has kept its local finished steel prices stable for February delivery, keeping its prices unchanged for the fourth straight month. Though overall demand improved in January and an upward trend has prevailed in the international market, the steel mill’s inventories have not changed much and it will wait to see the market developments after the Chinese Lunar New Year holiday.
Tokyo Steel’s rebar and H-beam prices have maintained at JPY 62,000/mt ($563/mt) ex-works and JPY 83,000/mt ($753/mt) ex-works, respectively. Prices for HRC with thickness above 1.7 mm have stayed at JPY 67,000/mt ($608/mt) ex-works.
In January, the supply-demand balance has been maintained and steel prices have been supported by still high raw material prices. The company expects the uptrend in the Asian market to resume.
$1 = JPY 110.182