Japan: Tokyo Steel Keeps Prices Unaltered for April Deliveries

Tokyo Steel Manufacturing Co Ltd, Japan's top electric-arc furnace steelmaker has kept steel product prices stable for April deliveries in order to evaluate that weather increased prices have been absorbed in the markets since the beginning of CY18.

In the month of March, company has kept the steel prices unchanged.However in the month of Feb company has raised steel prices by Yen 2000/MT (USD 19/MT) over tight supply in domestic market along with higher transportation cost.

Imamura Managing Director,mentioned that "Overseas steel markets remain tight given the healthy economy worldwide and domestic steel demand remains solid.

"But we are keeping our prices unchanged next month to make sure our hikes through February have been absorbed by every layer of the market", he added

Last month the steel maker had announced prices for H-section steel at 89,000 Yen, Hot Coil at 74,000 Yen and Hot Rolled Steel Sheet at 79,000 Yen.

Tokyo Steel raises scrap purchase price - Tokyo Steel has raised its domestic scrap purchase prices for the third time so far this month. As per latest price circular, scrap buying prices have moved up further by JPY 500/MT (USD 5) only at its Utsunomiya works which would be effective from tomorrow (i.e. 20th Mar'18) for all grades of scrap in Japan. While Tokyo Steel kept scrap purchase prices unchanged for Tahara, Okayama, Kyushu and Takamatsu Steel center.

So far in Mar'18, Tokyo Steel has raised scrap purchase prices by Yen 1500/MT for its Utsunomiya works.