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| Tokyo Steel Reports Y2,000 May Markup For Deformed Bars |
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Japan's largest electric steelmaker Tokyo Steel Mfg Co announced April 20 that the company has decided to increase the list price of deformed bars by Y2,000/ton to Y51,000/ton CIF for base sizes while keeping the list prices unchanged of other steel products in the company's domestic sales contracts for May 2009, which indicates a price increase of deformed bars for the first time in three months. Behind the decision are two main factors. First, there are signs of a floor in deformed bar prices. Second, Japan's domestic prices of locally available ferrous scrap are on the rise. Excepting deformed bars, the current list prices of base sizes are Y68,000/ton FOT (free on truck) for H-beams; Y69,000/on FOT for I-beams; Y77,000/ton FOT for U-piles; Y52,000/ton FOT for HR coils; Y55,000/ton FOT for pickled HR coils; and Y60,000/ton FOT for checkered plates. Naoto Ohori, Tokyo Steel's managing director and general manager of marketing, made his comments April 20 to the following effect. <>Major production cutbacks at domestic steel mills show results in decreased supplies, while inventory adjustments of steel products are in advanced stages. Also, inventory disposal sales or realization sales by steel distributors and processors have taken their course. Accordingly, there are signs of a floor in domestic steel prices. <>Tokyo Steel has rising overseas inquiries for its products. But the company has no idea of negotiating export deals at the going price levels that estimated at US$400-450/ton FOB for HR coils and US$500/ton FOB for H-beams. <>Tokyo Steel faces inadequate arrivals of locally available ferrous scrap at its works. But the company has no intent to pay high prices for local ferrous scrap toward concentrated crude steel production during the Golden Week holidays even if lower electricity rates are available then. |
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| last modified : Fri 24 Apr, 2009 [10:15] |
