Tokyo Steel to Freeze All Product Prices in June for the Fourth Consecutive Month

Tokyo Steel announced on the 20th that it will freeze prices for all products in June, marking the fourth consecutive month of unchanged prices.

The company had previously raised prices for four coil products, including hot-rolled coils, by 2,000 yen per ton in February. Prices for long products, such as H-beams, have remained unchanged for 11 consecutive months since August last year.

As a result, the main product prices will remain as follows: hot-rolled coil at 107,000 yen (1.722.0t), plate at 118,000 yen (9.040.0t), H-beams at 127,000 yen (100x100300x300), and rebar at 98,000 yen (D1325).

According to the company, production in May is planned to be approximately 290,000 tons. This includes 145,000 tons of hot-rolled coil (including 30,000 tons for export), 95,000 tons of H-beams, and 35,000 tons of plate.

Tokyo Steel stated, "Due to increased exports driven by China's oversupply, low-cost products continue to emerge. We will closely monitor the economic situation in China and supply-demand changes amidst the rebound in raw material and energy prices."

According to China's General Administration of Customs, China's steel exports for the January-April period this year surged by 27% year-on-year to 35.02 million tons. Exports in April (9.22 million tons) increased by 16% compared to the same month last year, maintaining the 9 million ton level for the second consecutive month.

Regarding the domestic market, the company commented, "While major construction companies remain cautious in securing construction orders, the balance in product supply and demand is expected to improve the market outlook."

Regarding scrap steel prices, Tokyo Steel noted, "The overseas market is maintaining stability with few new transactions. While exchange rate fluctuations may affect prices, significant changes in trends are unlikely in the near term."