Tokyo Steel Reduces All Steel Items by 6,000-12,000 yen/t

Tokyo Steel Manufacturing announced on Tuesday the firm reduces the selling price of the all steel products for September orders, which is the first decrease since July 2005. The firm reduces the price by 6,000 yen per tonne for plate steel, by 12,000 yen for flat steel and concrete reinforcing steel bar and by 10,000 yen for other long products. The firm tries to compete with imports by the reduction while the firm adjusts the higher price than other domestic makers. The new price is 100,000 yen per tonne for rebar, 118,000 yen for H-beam, 105,000 yen for hot rolled coil and 126,000 yen for plate. The firm also reduces the export offer under slowing international market. The offer is FOB US$ 1,100 per tonne for hot coil for buyers in Southeast Asia and Middle East for October-November shipment, which is US$ 50 lower than the peak while the H-beam offer decreases by US$ 100 from the peak to US$ 1,250. The firm plans 110,000 tonnes production for H-beam and 100,000 tonnes for hot coil in August. The firm reduces the extra charge for thinner hot-dip galvanizing steel from 15,000 yen per tonne on base size to 8,000 yen for product with 0.3-0.4 millimeters thick. The firm increases the H-beam size extra charge from 6,000 yen on base size to 8,000 yen for product with 800 by 300 mm width and from 8,000 yen to 12,000 yen for 900 by 300 mm product.