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Tokyo Steel Manufacturing Co Ltd., Japan’s top electric-arc furnace steelmaker, said on Monday it will hold its January steel product prices steady to reflect slow domestic demand in some manufacturing and construction sectors.
The company will retain the prices for a sixth month for its steel products, including its main H-shaped beams.
For January, prices for steel bars, including rebar, will remain at 98,000 yen ($689) per metric ton while H-shaped beams will stay at 127,000 yen per ton.
Tokyo Steel’s pricing is closely watched by Asian rivals such as South Korea’s Posco 005490.KS and Hyundai Steel 004020.KS, and China’s Baoshan Iron & Steel Co Ltd (Baosteel) 600019.SS.