Tokyo Steel to hold product prices steady in Oct for a third month

Tokyo Steel Manufacturing Co , Japan’s top electric-arc furnace steelmaker, said on Tuesday said it would hold steel product prices steady in October to reflect slow activities in the construction sector at home and sluggish demand abroad.

This is the third month the company will keep prices unchanged for all of its steel products, including its main H-shaped beams. Tokyo Steel lowered prices for some products in July.

Tokyo Steel’s pricing is closely watched by Asian rivals such as South Korea’s Posco and Hyundai Steel , and China’s Baoshan Iron & Steel Co Ltd (Baosteel) .

For October, prices for steel bars, including rebar, will remain at 98,000 yen ($663) per metric ton while H-shaped beams will stay at 127,000 yen per ton.