Japanese electric arc steelmaker Tokyo steel kept prices for finished long steel consumed in construction unchanged for July shipments after raising them in June. For flat steel products, however, healthy demand has resulted in a price hike of JPY5,000/mt ($45/mt) for July shipments.
Earlier, for June deliveries, Tokyo Steel had raised finished flat steel sales prices by JPY10,000-17,000/mt ($92-156/mt).
Steel demand in the construction sector is expected to improve gradually in Japan. Meanwhile, global prices have remained robust driven by strong economic recoveries in major countries post the COVID-19 slump.
Tokyo Steel’s July shipment prices
|Tokyo Steel’s July shipment prices|
|Products||Prices in JPY/mt|
|Striped H steel||113000|
Tokyo Steel kept rebar prices unchanged at JPY83,000/mt ex-works for July deliveries, while prices of U-shaped steel sheet piles remained at JPY115,000/mt. The company will offer H-shaped beams at JPY103,000/mt ex-works.
For flat steel products, the prices of coils, including hot-rolled coils (HRC) were at JPY116,000/mt unchanged from June. Checkered coils prices were revised to JPY123,000/mt, up JPY5,000/mt while pickled and oiled coils will be offered at JPY125,000/mt, up JPY2,000/mt ex-works.
In the Asian markets, Tokyo steel’s finished product prices are followed by other steelmakers, including Posco, Hyundai, Baoshan, JSW and Formosa.