Tokyo Steel keeps product prices steady in Sept for 2nd month [Reuters]
POSCO Holdings Inc. American Depositary Shares (Each representing 1/4th of a share of) (PKX)
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Source: Reuters
Tokyo Steel keeps product prices steady in Sept for 2nd month - Reuters 2 Min Read TOKYO, Aug 19 (Reuters) - Tokyo Steel Manufacturing Co Ltd , Japan’s top electric-arc furnace steelmaker, on Monday said it would hold its steel product prices steady in September because of high inventories at home and a weaker overseas market. That is the second month the company has kept prices unchanged for all its steel products, including its main H-shaped beams. For September, prices for steel bars, including rebar, will remain at 64,000 yen ($602) a tonne, while H-shaped beams will stay at 85,000 yen ($780) a tonne. “Domestic supply flow has been slow due to the summer holiday season, but local inventories have started to come down slowly,” Tokyo Steel Managing Director Kiyoshi Imamura told reporters at a briefing. “We expect local demand to pick up in the October-March second-half, although it may take some time to see a further reduction in local stockpiles,” he said. Overseas demand, meanwhil
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