Posted on 20 Aug 2024
Tokyo Steel, the leading electric arc furnace-based steelmaker in Japan, decided to keep offers unchanged for the seventh month in a row in September.
Base prices of rebar, H beam steel and plate remained at JPY 98,000/tonne ($670/t), JPY 127,000/t and JPY 118,000/t, respectively. The premium for its green steel brand “Near Zero” was sustained at JPY 6,000/t for all categories.
The company chose to hold price steady in the downturn because of deteriorating steelmaking margins, rising inquiries for near-term delivered H beam product in Japan, and caution over imports amid fluctuating exchange rates.
By comparison, major flat steel mills in China and Taiwan decided to cut their September prices to stimulate downstream orders (see Kallanish passim).
Source:Kallanish
