Tokyo Steel Keeps October Steel Price for All Items

Tokyo Steel Manufacturing announced on Tuesday the firm keeps the selling price of all steel items unchanged for distributors for October order, which was the first price freeze in 4 months. The firm tries to watch the market move including Chinese production cut and raw materials market.

The firm plans to make 200,000 tonnes of steel products in September as August. The production will be around 15,000 tonnes at Tahara plant. The firm’s production of flat rolled products is more than 60% when the hot rolled coil production is monthly more than 100,000 tonnes and the plate production is around 35,000 tonnes. The H-beam production will increase by around 10,000 tonnes to 60,000 tonnes in September.

The firm is getting higher inquiries from Southeast Asian buyers when Chinese steel export decreases under the government oriented production cut by Chinese makers. The firm got export order at FOB US$ 650 per tonne for hot coil and around US$ 730 for H-beam. The firm tries to increase the export price by offering US$ 670 for hot coil and US$ 750 for H-beam.

The firm left the spot selling price unchanged at 73,000 yen per tonne for H-beam, at 59,000 yen for concrete reinforcing steel bar and at 72,000 yen for plate.