Tokyo Steel To Keep Product Prices Unchanged In June

Tokyo Steel Manufacturing Co 5423.T, Japan’s top electric-arc furnace steelmaker, on Monday said it would hold steel product prices steady in June to ensure hikes implemented earlier this year would be absorbed by the market.
This is the second month the company will keep prices unchanged for all of its steel products, including its main H-shaped beams. Tokyo Steel raised prices for some products in March and April.
For June, prices for steel bars, including rebar, will remain at 103,000 yen ($763) a tonne while H-shaped beams will also stay at 127,000 yen a tonne.
Tokyo Steel’s pricing is closely watched by Asian rivals such as South Korea’s Posco 005490.KS and Hyundai Steel 004020.KS, and China’s Baoshan Iron & Steel Co Ltd (Baosteel) 600019.SS.