Tokyo Steel keeps product prices steady for fifth month in July

HYUNDAI STEEL

17/06/2024 09:56

TOKYO, June 17 (Reuters) - Tokyo Steel Manufacturing
 5423.T  will keep steel product prices unchanged in July, for
the fifth straight month, the top Japanese electric-arc furnace
steelmaker said on Monday, as it monitors domestic and
international market trends.
    The overseas steel market remains in a bearish tone due to
strong exports from top producer China, while there are 
concerns about delays and cancellations in major construction
projects in Japan as well as uncertainty over automobile demand,
the company said in a statement.
    For July, Tokyo Steel prices for hot rolled coils will stand
unchanged at 107,000 yen ($679) a metric ton, and its main
H-shaped beams at 127,000 yen a ton.
    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 .
    
($1 = 157.6200 yen)

 (Reporting by Yuka Obayashi; Editing by Shinjini Ganguli)
 ((Yuka.Obayashi@thomsonreuters.com; +813-4520-1265;))