Tokyo Steel Keeps Prices Unchanged for Nov'17
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Tokyo Steel Manufacturing Co Ltd, Japan's top electric-arc furnace steelmaker, said on Monday that it would hold its product prices steady for the month of November. The company had increased prices by about USD 27/MT in September and about USD 18-28/MT in August.
"We are closely watching China's supply and demand situation rather than being happy with futures and spot prices. In September, the steel export from China was 5.14 million tons, which was 14 months low. We can see how domestic demand in China is high even from this point of view. " said Imamura Managing Director, Tokyo Steel.
Prices for various products as per new revision are as below(Nov'17) -
| Particulars | Prices |
| H Shape Steel | 81,000 Yen |
| I shape Steel | 83,000 Yen |
| U Shaped Steel Sheet | 93,000 Yen |
| Thick Plate | 75,000 Yen |
| Hot Coil | 67,000 Yen |
| Hot Dip galvanized coil | 92,000 Yen |
| Hot Rolled Steel Sheet | 72,000 Yen |
| HR coils FoB | USD 570-590/MT |
| H Section Steel FoB | USD 620-630/MT |
1 USD = 111.82 JPY
Source -SteelMint Research
Key Highlights of Tokyo Steel Conference -
. Tokyo steel's October output was 215,000 MT, out of which H shaped beam was 100,000 MT and the Hot-rolled coil was 80,000 MT and Plate was 15,000 MT.
. Company exported 15,000 MT steel in October 2017
. Market conditions were down when China and Korea went for a week-long holiday, but after holidays prices have stabilized
. Regarding domestic demand and supply, many projects such as redevelopment projects are postponed and it seems that construction demand will continue until around 2023 after the Tokyo Olympics.
. Chinese steel industry has been shifting to the environment first, from the earnings first principle, and that the current administration emphasizes the environment, says Mr. Imamura on his recent visit to China.
. At the moment there is no influence of Kobe steel's data falsification. Our company thoroughly conducts internal audits and quality control
