Tokyo Steel holds Dec product prices unchanged amid high stocks
Tokyo Steel Manufacturing Co Ltd, Japan’s top electric-arc furnace steelmaker, will keep all steel product prices unchanged in December as it took too long to trim high stocks of steel sheets at home, the company said.
The steelmaker kept all steel product prices steady in November.
For December, prices for steel bars, including rebar, will remain at 62,000 yen ($568.3) a tonne, while its mainstay H-shaped beams will stay at 83,000 yen a tonne.
Tokyo Steel’s pricing is closely watched by Asian rivals such as South Korea’s Posco and Hyundai Steel , and China’s Baoshan Iron & Steel Co Ltd (Baosteel).
Source: Reuters (Reporting by Yuka Obayashi, editing by Louise Heavens)