Tokyo Steel Manufacturing, Japan’s leading EAF has announced that it is holding list prices stable in July for various finished steel products including rebar. On May 21, SteelOrbis reported Tokyo Steel would carryover rebar prices into June at JPY 69,000 ($621/mt) ex-mill while prices for its main H-beam would remain listed at JPY 89,000 ($801/mt) ex-mill.
List prices for rebar are reportedly continuing into July at JPY 69,000/mt ($624/mt) ex-mill while prices for H-beam will remain at JPY 89,000/mt ($805/mt) ex-mill. Due to currency fluctuations, prices at time of announcements have increased $3/mt on rebar and $4/mt on H-beam month-on-month. Rebar spot market prices are trending lower than list prices. The spokesperson for Tokyo Steel stated that prices were being maintained stable to allow previous price increases to be absorbed by the market. This is the fifth month of unchanged prices after five increases from September 2017 to February 2018. Tokyo Steel increased prices in September, October, December, January, and February. List prices for rebar on August 1, 2017, were reportedly at JPY 59,000/mt ($535/mt) ex-mill. The list price was maintained steady in July and August of 2017.
In addition, HRC list prices are reportedly continuing stable month-on-month at JPY 74,000 ($669/mt) ex-mill for July 2018.
USD = JPY 110.29 (Aug 1, 2017)
USD = JPY 111.07 (May 21)
USD = JPY 110.58 (Jun 18)