Prices in Tokyo Steels remained stable for straight four months

The product prices in Japan would remain sturdy in June, making certain that the market have riveted their former hikes, said on Monday by Japan’s top electric-arc furnace steelmaker of Tokyo Steel Manufacturing Co Ltd. He further added that the company has maintained to stable prices for last four months. The policy and pricing strategy of Tokyo steel has been observed by Asian opponents like Hyundai Steel Co and South Korea’s Posco, whereas Baoshan Iron and Steel Co Ltd (Baosteel) of China is included too. The Managing Director Kiyoshi Imamura of Tokyo steel’s communicated with the reporters and told them that in local steel industry activities are gathered up but in previous year the market have not been fully captivated their price hikes. The prices remained stable; for their main product, the price of H-shaped beams remained same at 89,000 Yen and for steel bars that includes rebar, will be at 69,000 Yen which is $621 a tonne. He then added that they are optimistic that soon there will be a time that would be suitable for end-users, which have previously outperformed steelmaker’s results and steel-making raw materials have been reported as stout earnings for previous year. He then stated that the world’s largest steel consumer China has strong demand which is forecasted to continue in coming year while supporting global steel markets.

• [Editor:janita]