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Tokyo Steel Manufacturing Co Ltd, Japan’s top electric-arc furnace steelmaker, said on Monday it will hold steel product prices steady in December to reflect lacklustre demand in the construction and manufacturing sectors at home.
This is the fifth month the company will keep prices unchanged for all of its steel products, including its main H-shaped beams.
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 December, prices for steel bars, including rebar, will remain at 98,000 yen ($655) per metric ton while H-shaped beams will stay at 127,000 yen per ton.