The main EAF-based steel producer in Japan, Tokyo Steel, has rolled over its steel prices for local customers for February deliveries after the sharp increase announced last month. The producer mentioned the overall positive performance in the both long and flat steel markets, but decided to keep prices stable to allow end-users to absorb the previous sharp increases.
The producers’ rebar prices have remained at JPY 73,000/mt ($703/mt) ex-works, while its H-beam prices are still at JPY 93,000/mt ($896/mt) ex-works. Tokyo Steel has stated that inquiries from private construction projects as well as public projects are strong in Japan, which support higher prices for long products.
Tokyo Steel has rolled over its price for HRC with thickness above 1.7 mm, with the price remaining at JPY 79,000/mt ($761/mt) ex-works. “Inventories of steel sheets remained at extremely low levels, and some grades are in shortage,” the producer said.
Tokyo Steel had increased its local steel prices by JPY 10,000/mt ($96/mt) for January.