Tokyo Steel, Japan’s leading EAF-based steel producer, has decided to maintain its steel prices for December. Key prices include HRC at JPY 92,000 (USD 596) per ton, pickled and oiled coils at JPY 100,000 (USD 648) per ton, and coated coils at JPY 124,000 (USD 875) per ton. For long products, rebar is offered at JPY 88,000 (USD 570) per ton, and H-beams at JPY 115,000 (USD 745) per ton.
The company cited mixed conditions in global steel markets. Overseas, steel prices are stabilizing, with optimism in China for potential improvements from economic stimulus and in the U.S. for increased domestic consumption. Domestically, however, labor shortages and rising costs in the construction sector are suppressing demand despite a rise in project planning. While demand for construction materials is showing signs of recovery, manufacturing-related steel plate demand remains weak.
Tokyo Steel noted easing downward pressure on import prices due to the Japanese currency depreciation and supply restraint by domestic producers. They anticipate the market will bottom out toward the year’s end and will continue aligning production with demand to support recovery.
1 USD / 154.4 JPY
