Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
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).
Also Read : ArcelorMittal Nippon Steel to Invest ₹2.6 Lakh Cr to Expand Capacity Germany's Steel Sales Skyrocket by 76.3% in January
According to Pradip Kumar, chairman and managing director of the Indian Renewable Energy Development...
Press Releases 15-Feb-2024
Indian Oil Corp, India's largest refiner, anticipates gasoline sales to climb 4.5-5% in the fiscal y...
Large Corporate 06-Feb-2024
The publicly traded stainless steel producer Jindal Stainless has revealed a 'three-pronged' investm...
Large Corporate 02-May-2024
Adani Green Energy Ltd aims to invest approximately ₹1.5 trillion by 2030 in the Khavda renewable en...
Large Corporate 08-Apr-2024
The Indian government is considering extending import restrictions on essential raw materials used i...
Raw Material 25-Feb-2025
✅ Novartis CEO monitoring US reciprocal tariff policy’s impact.✅ Tariffs could affect drug p...
USA 17-Mar-2025