Following the rises in longs steel prices in the domestic market in Japan last month, the leading Japanese EAF-based steel producer Tokyo Steel has decided to keep prices for all its steel products stable for May, as any further increases may impact demand, while the sentiments in the global market also lack strength.
Tokyo Steel’s rebar prices have remained at JPY 103,000/mt ex-works or $768/mt, after an increase by JPY 3,000/mt in March. Prices for H-beams have been rolled over at JPY 127,000/mt or $946/mt. Demand for long steel products in Japan is still firm, specifically for beams, and inventories have been gradually going down, but “there is still sluggishness in the movement of products by distributors to pass on the price hikes of steel manufacturers, so we look forward to future developments,” Tokyo Steel said in its statement.
Prices for HRC with thickness above 1.7 mm from Tokyo Steel have been stable at JPY 115,000/mt ex-works, the same as last month, with the dollar equivalent standing at $857/mt. Demand for HRC in Japan is moderate, while “demand for thick plates from the manufacturing industries, like construction machinery and industrial machinery, remains strong,” the producer said.