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

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.