Tokyo Steel to hold product prices steady in Oct for a third month

HYUNDAI STEEL

19/09/2023 08:34

TOKYO, Sept 19 (Reuters) - Tokyo Steel Manufacturing Co
 5423.T , Japan's top electric-arc furnace steelmaker, said on
Tuesday said it would hold steel product prices steady in
October to reflect slow activities in the construction sector at
home and sluggish demand abroad. 
    This is the third month the company will keep prices
unchanged for all of its steel products, including its main
H-shaped beams. Tokyo Steel lowered prices for some products in
July.
    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 .
    For October, prices for steel bars, including rebar, will
remain at 98,000 yen ($663) per metric ton while H-shaped beams
will stay at 127,000 yen per ton.
    
($1 = 147.7900 yen)

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