Tokyo Steel Kept Selling Price in 7 Months

Tokyo Steel Manufacturing, Japanese largest electric furnace maker, announced the selling price of steel products in June contract on Monday, didn’t change the price in all products in 7 months since November contract. Naoto Ohori, managing director, said domestic market is slow with revision of building standards law in June. The firm will wait and see. However, steel demand of private sector keeps strong. The firm expects the supply would continue good situation for demand season in autumn after each maker’s produced reduction in summer in July-September. In considering of general contractors are responding toward the revision of building standards law which further tighten application of building certification, and are putting off their order placement to consider. The firm kept selling price of h-beam and will stand watch the response of general contractors. The firm aims a target of price hike in autumn when is demand season. The demand for hot rolled steel coil keeps good in domestic and overseas market. The firm is carrying in export business in a positive way due to cheap yen rate at 121 yen per dollar. The firm’s export rate was 10% in January-March, which is expected to increase to 15-20% in April-June. The firm is expected to emphasis export business due to increased market price in South East Asia or China.