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Japan: Tokyo Steel rolls-over steel price for Nov deliveries

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BigMint Bureau

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19 Oct 2020, 19:14 IST

Japan's top EAF-based steel manufacturer Tokyo Steel has kept the prices of Hot-rolled coils (HRC) and H-shaped beams prices unchanged for Nov deliveries. Prices are mentioned below:

Hot-rolled coil- JPY 67,000/t ($636)
H-shaped beam- JPY 81,000 ($769)

The company officials believe that keeping prices stable for Nov deliveries might help in the absorption of the hike announced for Oct delivery products.

Mills kept prices firm due to:

Japan's domestic demand is gradually picking up.
The supply of HR coils to the domestic automotive industry is increasing.
Strengthening overseas demand aligned with strong demand from China.
Shortage of few finished steel products in the country.

Last month, the company had increased its Oct delivery prices by JPY 2,000/t ($19) across 4 categories of products viz. Rebar, Hot-rolled coil, H-shaped beams, and Hot dipped galvanized amid a recovery in demand in the domestic and global market.