May 22, 2017 / 8:05 AM / 3 months ago

Tokyo Steel to hold product prices steady for fourth month

TOKYO, May 22 (Reuters) - Tokyo Steel Manufacturing Co Ltd , Japan's top electric-arc furnace steelmaker, on Monday said it would hold its product prices steady for a fourth month in June.

"We will stick to the current prices since activity in the domestic steel market is slow and spot prices remain at a standstill," Tokyo Steel's managing director Kiyoshi Imamura told a news conference on Monday.

Tokyo Steel is keeping prices for its main product, H-shaped beams used in construction, at 78,000 yen ($701) a tonne and prices for steel bars, including rebar, at 56,000 yen a tonne.

The company's pricing strategy is closely watched by Asian rivals such as South Korea's Posco and Hyundai Steel Co, as well as China's Baoshan Iron & Steel Co Ltd(Baosteel). ($1 = 111.2600 yen) (Reporting by Yuka Obayashi; Editing by Joseph Radford; Editing by Christian Schmollinger)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below