Tokyo Steel to keep product prices unchanged in June

HYUNDAI STEEL

22/05/2023 09:55

TOKYO, May 22 (Reuters) - Tokyo Steel Manufacturing Co
 5423.T , Japan's top electric-arc furnace steelmaker, on Monday
said it would hold steel product prices steady in June to ensure
hikes implemented earlier this year would be absorbed by the
market. 
    This is the second month the company will keep prices
unchanged for all of its steel products, including its main
H-shaped beams. Tokyo Steel raised prices for some products in
March and April.
    For June, prices for steel bars, including rebar, will
remain at 103,000 yen ($763) a tonne while H-shaped beams will
also stay at 127,000 yen a tonne.
    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 = 135.0500 yen)

 (Reporting by Yuka Obayashi, Editing by Bernadette Baum)
 ((Yuka.Obayashi@thomsonreuters.com; +813-4520-1265;))