Tokyo Steel Keeps Selling Price for Aril Order

Tokyo Steel Manufacturing announced on Monday the firm left the selling price for all steel products for April order, which the firm accepts to March 23. The firm kept the price for 3 months. The firm said the firm didn’t raise the price to confirm the stable price move when the domestic steel demand is slow due to deception of earthquake safety though worldwide steel inventory adjustment progresses in offshore market. The firm started the export offer of hot rolled coil for the first time since March 2005 order. The firm tries to settle the negotiation at FOB US$ 500 per tonne. The firm said the market condition changed when Chinese steel market price recovers from the slump. The firm said Asian export price of hot coil increased to FOB US$ 465 per tonne from US$ 300 at the end of 2005. The price improved though the price is still lower than US$ 740-750 of Tokyo Steel’s export price in March 2005. The domestic steel demand is slow when the orders are delayed mainly for long products due to deception of earthquake safety. The firm said the long products market will improve sooner or later under firm consumer spending and capital expenditure. The firm said the firm is getting steel order for construction materials from automotive parts, appliances and supermarket. The firm said the H-beam output was 135,000 tonnes in February, which was in line with January. The firm said the output will increase in March. The hot coil output will increase in March from the low-level of 50,000-60,000 tonnes per month since November. See attached table.