This decision was taken in response to stagnant activities in the domestic construction sector and weak external demand. In December, prices for various steel products will remain stable at 98,000 yen per ton ($663/t) for steel bars (e.g. reinforced iron) and 127,000 yen per ton for H-shaped beams.
This announcement marks Tokyo Steel's decision to keep prices for all steel products unchanged for the fifth consecutive month. The company had previously reduced prices for certain products in July.
Tokyo Steel's pricing strategy is under close scrutiny from Asian rivals such as China's Baoshan Iron & Steel Co Ltd, along with South Korea's Posco and Hyundai Steel.
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