Osaka Steel Leaves Section Price Unchanged for June Order

Japanese electric furnace steel maker, Osaka Steel announced on Monday the firm leaves section steel selling price unchanged for June order. The firm expects weak ferrous scrap price could turn upward while iron ore and metallurgical coal price continues increasing. The firm secures steel shipment for rebuilding activity in the major earthquake damaged areas as the first priority while the firm tries to adjust the production level to the current demand condition.

Section steel demand slows after the major quake. However, the inventory level remains stable due to the makers’ effort to maintain the supply balance. Ferrous scrap price peaked out. However, Osaka Steel keeps the steel selling price with expectation for potential higher raw materials cost under ongoing resource inflation.