Tokyo Steel Keeps Long and Flat Products Price for June

Tokyo Steel Manufacturing, Japanese largest electric furnace steel maker, announced on Monday the firm set the selling price of plate and long products unchanged for June contracts with dealers. At the same time, the firm stops steel sheet sales from Okayama works. An explosion accident occurred at a steel making plant inside Okayama works on Saturday.

Tokyo Steel Manufacturing left the selling price for rebar unchanged for the first time in 10 months. The firm also set the selling price of H-beam and plate unchanged for the first time in 2 months. Mr. Naoto Ohori, the firm’s managing director, said they would eye the market price. The firm also left the rebar selling price unchanged at 56,000 yen per tonne and the H-beam price at 73,000 yen per tonne for general contractors.

The firm is delivering hot coil from existent inventories due to the accident. Okayama works produced hot coil at 20,000 tonnes in March and 30,000 tonnes in April. Other products are produced as normal. The firm plans to produce H-beam at 70,000 tonnes in May, which produced 55,000 tonnes in April. Kyusyu works plans to produce plate at 15,000 tonnes per month for April-June.

Tokyo Steel Manufacturing revised down extra price for H-beam. The extra price was halved to 2,000 yen for the size with 700 x 300 millimeters width for June contracts, to 4,000 yen for the size with 800 x 300 mm width, and to 6,000 yen for the size with 900 x 300 mm width. As for the size with 400 x 400 mm width, the firm revised down the extra price by 2,000 yen to zero. The firm added new H-beam size with 414 x 405 mm width for civil engineering, and new plate with KB and KD standards of Nippon Kaiji Kyokai for shipbuilding.