Tokyo Steel Will Not Change Product Prices in December

Forex - Japan's largest electric arc furnace steel producer, Tokyo Steel, announced today that it will maintain steel product prices in December to support market stability. The company had also left the prices of all steel products unchanged in November, including its flagship H-shaped beams. For December, the prices for rebar, including construction bars, will remain at 88,000 yen/ton (569 dollars), while H-shaped beams will stay at 115,000 yen/ton. The company stated that the environment for steel products in overseas markets has not yet fully improved, although signs of a bottoming out have emerged in several countries. Domestically, demand for construction materials has remained stagnant due to rising equipment and labor costs, and there has not been a significant recovery in the demand for steel sheets across various manufacturing sectors. Tokyo Steel's prices are closely monitored by Asian competitors such as South Korea's Posco and Hyundai Steel, as well as China's Baoshan Iron & Steel (Baosteel).