Japan's major electric arc furnace mill, Tokyo Steel Manufacturing, will keep its finished product list prices for May unchanged from April.
"There is no reason to change prices," Tokyo Steel's managing director Kiyoshi Imamura said Monday.
The company had last changed prices for its December contracts. It had lifted plate prices by Yen 2,000/mt ($18/mt) at the time, and kept pricing for all other products unchanged. Pricing for the other products were last changed for February 2018 contracts.
The decision to keep prices unchanged for May means Tokyo Steel's list prices for SS400 senior-sized H-beams will remain at Yen 89,000/mt ($795/mt) and SPHC 1.7-22 mm hot-rolled coil at Yen 74,000/mt.
Stocks for finished steel products in the Japanese domestic market have increased lately amid arrivals of material booked during the December-January period when lower overseas prices saw more active buying, Imamura said. But overall demand in Japan was firm and it will not take long for the supply-demand fundamentals to become balanced in the domestic market, he added.
Japan is expected to see slower operations during the Golden Week holidays over April 27-May 6, with just some construction projects ongoing. "Product deliveries will be busier right before and right after the holidays, but most distribution will be stopped during the holidays," Imamura said.
Tokyo Steel plans to produce 235,000 mt of finished steel in April, up 5,000 mt from March. This includes 100,000 mt of H-beams, 95,000 mt of HRC and 20,000 mt of plates.
Bids from overseas customers were currently at around $680-$700/mt FOB for H-beams, mostly unchanged from the $680-$690/mt FOB seen a month ago. Bids for HRC were at $550-$570/mt FOB, also mostly unchanged from $550-$560/mt FOB seen a month ago.
Tokyo Steel plans to produce around 30,000 mt of HRC in April for export, up 10,000 mt from March.
-- Yoko Manabe
source : SteelBB