Japan’s largest producer of steel using an electric arc furnace, Tokyo Steel Manufacturing Co Ltd., announced on Monday that it will maintain the same prices for its steel products in January, citing a slowdown in domestic demand in certain manufacturing and construction industries.
For a sixth month, the company will continue to charge the prices listed for its steel products. Which include its primary H-shaped beams.
Prices for H-shaped beams remain at 127,000 yen per tonne for January. While those for steel bars, including rebar, will stay at 98,000 yen ($689) per metric tonne.
Asian competitors, including China’s Baoshan Iron & Steel Co Ltd (Baosteel) 600019.SS and South Korea’s Posco 005490.KS and Hyundai Steel 004020.KS, closely monitor Tokyo Steel’s pricing.