Tokyo Steel announces price cut for October sales

Tokyo Steel, Japan’s largest electric arc furnace steelmaker, has announced price cuts for its October sales after maintaining steady prices for seven consecutive months. The decision comes in response to weak domestic demand in the construction and manufacturing sectors, along with uncertainty in the global economic outlook.

Tokyo Steel set rebar prices for October at JPY 88,000 (approx. USD 623) per ton, down USD 70 per ton, JPY 115,000 (approx. USD 814) per ton for H-beam, down USD 85 per ton, and JPY 103,000 (approx. USD 728) per ton for plate, down USD 106 per ton. In the flat steel market, Japanese distributors and manufacturers are still working through excess inventory, and despite a reduction in domestic stockpiles, prices for imported plates continue to decline.

The company highlighted the growing need for stronger trade defense measures, as more countries, including those in Europe, the United States, and Asia, have implemented protective actions to safeguard their steel industries. Tokyo Steel indicated that similar measures may be necessary in Japan to protect the domestic market from the influx of cheaper imports.