Tokyo Steel, Japan’s leading EAF, has stated that it will keep prices steady for June to “ensure its earlier hikes were absorbed in the market.” Managing Director Kiyoshi Imamura elaborated that while the market is “picking up” previous price increases in 2018 have not be fully absorbed. He noted that price increases “will become ripe soon” due to the strength and strong earnings of end-users in the auto, electronics and machinery industries. Additionally, price increases may become necessary due to price increases in auxiliary raw materials and distribution expenses.
This is the fourth consecutive month that the company keeps list prices stable with rebar at JPY 69,000 ($621/mt) ex-mill while prices for its main H-beams will remain listed at JPY 89,000 ($801/mt) ex-mill.
USD = JPY 111.07 (May 21)