Japan's Tokyo Steel maintains Sep domestic list prices steady on month
Tokyo Steel Manufacturing, Japan's leading electric arc furnace mill, announced Monday that it would maintain its domestic list prices for September flat from August. The list prices have been steady since March.
The company's list price for SS400 senior-sized H-beams will remain steady at Yen 89,000/mt ($805/mt) and SPHC 1.7-22 mm hot rolled coil at Yen 74,000/mt.
Demand for both long and flat products were firm, while stocks of flat products had increased though it was expected to be adjusted soon, Tokyo Steel's Managing Director Kiyoshi Imamura said.
"Overall market condition hasn't changed from a month ago, so we couldn't lift prices," he said.
Production costs were increasing further and this was making the financial condition of mini mills worse and this was expected to continue for a while, he added.
