Tokyo Steel Reduces All Products Price by 2,000-4,000 y/t in Sep

Tokyo Steel manufacturing, Japanese largest electric furnace maker announced on Monday the firm decreased the selling price for dealers in September. The firm decreases the price for the first time in 3 months. The firm reduced the selling price by 4,000 yen per tonne for picked steel for expansion of sales and starting operation of pickling line in Tawara works in August, while decreased by 2,000 yen for other products, H-beam and hot rolled coil. The firm decided price cut for antagonism against imported products when steel market price difference is expanding between domestic market and overseas market due to high yen rate.

The firm decreased the selling price by 2,000 yen per tonne to 76,000 yen for H-beam to general contractors in September from last month, 60,000 yen for rebar and 73,000 yen for plate. Mr. Naoto Ohori, managing director of Tokyo Steel said the firm mulls to go back up the price when steel makers’ sales competition is over earnest.

The firm re-started export in this month and contracted export for pickled steel coil at 2,000 tonnes with C&F US$ 830 per tonne, and will continue to accept order due to firm order. On the other hand, the firm passed acceptance of order when bid price of hot rolled coil is low at FOB US$ 720-730 per tonne due to low international market price.

The firm’s production is 200,000-210,000 tonnes per month, which is 60,000 tonnes for H-beam, 100,000 tonnes for hot rolled coil and 30,000-35,000 tonnes for plate. The firm plans to produce at 250,000 tonnes in September. Tahara works started operation of pickling line from August 1, and expects to acquire Japanese Industrial Standards at an early date.