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Tokyo Steel keeps June product prices unchanged.
Decision supports market stabilization after recent cuts.
Domestic demand remains weak amid high construction costs.
Tokyo Steel Manufacturing Co., Japan's leading electric-arc furnace steelmaker, announced on Monday that it will keep its steel product prices unchanged for June. This decision aims to allow the market to absorb recent price reductions and support stabilization efforts.
In May, the company reduced prices for certain steel products, including its primary H-shaped beams, following earlier cuts in April. For June, prices for steel bars, including rebar, will remain at 85,000 yen ($585) per metric ton, while H-shaped beams will stay at 112,000 yen ($771) per ton.
Tokyo Steel cited sluggish overseas markets and weak domestic demand, particularly in the construction sector, as reasons for maintaining current prices. The company noted that project delays due to high costs and stagnation in the steel sheet market have contributed to the decision.
The company's pricing strategy is closely monitored by Asian competitors, including South Korea's Posco and Hyundai Steel, as well as China's Baoshan Iron & Steel Co Ltd (Baosteel).
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