Japan: Tokyo Steel rolls over its steel prices for Sep
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The company kept its steel prices unchanged for Sep deliveries amid dull demand.
Japanese steel manufacturer, Tokyo Steel, kept its Sep '20 steel prices unchanged, the second consecutive month with no price changes.
Currently, the offers remain unchanged and are hovering at
- Rebar JPY 59,000/t, ($559)
- H-Beams at JPY 81,000/t, ($767)
- Hot-dipped galvanized at JPY 70,000/t. ($663)
In the month of Jul'20, the company had increased prices by around JPY 3,000-5,000/t on the back of improved demand in China and consequent increase in Tokyo Steel's export offers.
The company is at present cautious about domestic steel demand in Japan and is waiting for a clear market direction to emerge, SteelMint learned from its Japanese sources.
The company increased scrap purchase prices the third time- Tokyo Steel has announced its third price hike for its domestic scrap purchase prices for Aug' 20. Bids have moved up by JPY 1000/t ($9) for all of its five plants, effective from 18th Aug '20.
The company would pay JPY 24,000/t for H2 scrap delivered at its Tahara plant in Central Japan and JPY 24,500/t for the Utsunomiya plant in the Kanto region. Prices have not been this high since touching JPY 25,000/t for the Utsunomiya plant on 27th Jun '20.
