The main EAF-based steel producer in Japan Tokyo Steel has decided to roll over local steel prices for September, keeping its prices stable for the second month in a row, after cutting them for July. In general, the situation in both the local Japanese and the international markets is weak, though some better expectations exist for October.
Tokyo Steel’s rebar prices have remained at JPY 98,000/mt ex-works, translating to $686/mt. Prices for H-beams have stayed at JPY 127,000/mt ex-works, or $888/mt. “In the domestic market, for building materials, although the number of inquiries for new construction projects increased… there has been a marked trend toward postponing construction starts and avoiding orders for small and medium-sized projects,” Tokyo Steel said.
The producer’s prices for HRC with thickness above 1.7 mm have remained at JPY 105,000/mt or $735/mt ex-works. “Although there are signs of a recovery in production volumes in the automobile-related industry, some industries have yet to increase production due to the effects of shortages in electronic components, etc., and overall steel consumption has not increased significantly,” the company said, adding that next month it is expecting some improvement in both the longs and flats steel markets in Japan.