Tokyo Steel keeps steel prices stable for Dec amid easing of demand

Monday, 22 November 2021 16:48:17 (GMT+3)   |   Istanbul
       

Japanese steel producer Tokyo Steel has left its steel prices for the local market stable for December, after a hike by JPY 3,000-5,000/mt ($26-44/mt) last month. Weakening demand and the slowdown in the global market has led to this move.

H-beam prices from Tokyo Steel have remained at JPY 111,000/mt ($973/mt) ex-works. The rebar price level is at JPY 89,000/mt ($780/mt) ex-works. Though demand has been stable for construction steel in Japan recently, the producer has been cautious as regards making further price adjustments, focusing on allowing the market to absorb the previous hike.

“In the overseas market, the economic stagnation due to the coronavirus disaster in Southeast Asia and the decrease in demand in China are worrying, and bearishness is emerging in the market as a whole,” Tokyo Steel said, but adding that the steel production cuts in China are significant and that this will support the market balance in the future.

In the flat steel segment, Tokyo Steel has rolled over prices for HRC with thickness above 1.7 mm at JPY 110,000/mt ($964/mt) ex-works. “Inventories of thin sheets are on the rise due to the impact of the recent reduction in automobile production, and there is a demand reduction in the market,” the producer stated.


Similar articles

Ex-Japan scrap prices fall amid stronger yen, Hyundai Steel cuts bids

24 Mar | Scrap & Raw Materials

Tokyo Steel cuts local scrap prices for second time this month

24 Mar | Scrap & Raw Materials

Japanese crude steel output down 4.3 percent in Feb from Jan

24 Mar | Steel News

Japan’s Daido Steel to invest to increase high-grade steel capacity

23 Mar | Steel News

Japan’s Aichi Steel to increase stainless steel production capacity

21 Mar | Steel News

Tokyo Steel cuts local scrap prices, dollar-based quotations increase

17 Mar | Scrap & Raw Materials

Tokyo Steel raises local scrap prices after one month

09 Mar | Scrap & Raw Materials

Japan’s Kobe Steel to supply low-carbon steel for shipbuilding

01 Mar | Steel News

Japanese crude steel output up 4.6 percent in Jan from Dec

23 Feb | Steel News

Japanese HRC exporters keep hiking sales prices in Feb following global uptrend

22 Feb | Flats and Slab