Posted on 17 Jul 2024
Tokyo Steel, Japan's leading electric arc furnace-based steelmaker, has retained all product prices unchanged in August for the sixth consecutive month.
The base price of rebar, hot rolled coils and plate stands at JPY 98,000/tonne ($618/t), JPY 109,000/t and JPY 118,000/t respectively. The products of its green steel brand “Near Zero,” which was launched early July (see Kallanish passim), are sold with a JPY 6,000/t premium for all categories.
The steelmaker noted that steel demand in the US and the Europe remained stagnant. China also saw weak demand and surplus steel output. In Japan’s domestic market, labour and construction equipment shortages were impacting construction demand, which followed subdued building materials flows. Flat products faced a similar demand adjustment with slowly-recovering automotive and machinery industries.
Although steel demand remains sluggish, relatively firm raw materials prices and expectation of an improved Japanese domestic market due to resilient public infrastructure demand induced the company to sustain prices.
Source:Kallanish
