Japan : Tokyo Steel Likely To Keep Steel Prices Unchanged for Mar Deliveries

Tokyo Steel Manufacturing Co Ltd, Japan’s top electric-arc furnace steelmaker, has announced to keep steel product prices steady for March deliveries after increasing for past three months amid tight supply in domestic market twined with higher transportation costs.

Meanwhile,the total production made in February was 1,95,000 tonnes.Out of which 90,000 tons of H- shaped steel and 70,000 tons of hot rolled coils.However exports were around 10,000 tons and plates stood at 15,000 tons.

Previously the  company has raised steel prices by Yen 2000/MT (USD 19/MT) for Feb deliveries.

Demand from construction and automobile sector still remains optimistic which has kept the steel prices firm in the domestic market.

Imamura Managing Director,Tokyo Steel commented that, "We want to hold our prices steady for now to make sure our hikes over the past three months have been absorbed by the market.”

Tokyo Steel Manufacturing Steel prices for Mar’18 Deliveries are-

1 USD =106.875  JPY
Source-SteelMint,Iru Miru

Tokyo Steel reduced scrap purchase price after four months hike - After recording hike in scrap purchase price since end of Oct’17, the steel maker slashed scrap purchase price twice so far in Feb’18. Thus the steel maker reduced scrap purchase price after four months in Feb’18. In two price cuts made on 02 and 07 Feb’18, the steel making company has cut bids for Japanese domestic scrap purchase by Yen 500/MT and Yen 1000/MT respectively.