Tokyo Steel product prices unchanged in January for second month

HYUNDAI STEEL

20/12/2021 09:38

TOKYO, Dec 20 (Reuters) - Tokyo Steel Manufacturing Co Ltd
 5423.T , Japan's top electric-arc furnace steelmaker, on Monday
said it will hold steel product prices steady in January to
ensure an increase implemented in November would be absorbed by
the market. 
    This is the second month the company has kept prices
unchanged for all of its steel products, including its main
H-shaped beams.  
    For January, prices for steel bars, including rebar, will
remain at 89,000 yen ($785) a tonne while H-shaped beams will
stay at 111,000 yen a tonne. 
    Domestic demand is strong, helped by a series of public
works and construction projects by private companies as well as
improving demand for shipbuilding, but some projects have been
delayed because of shortages of labour and materials while slow
output in automobile production caused a build in inventories of
some sheet products, the company said in a statement.
    Tokyo Steel's pricing is closely watched by Asian rivals
such as China's Baoshan Iron & Steel Co Ltd (Baosteel)
 600019.SS  and South Korea's Posco  005490.KS  and Hyundai
Steel  004020.KS .
($1 = 113.4000 yen)

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