Deformed bar and hot-dip galvanised steel coil offers will be subject to discounts of JPY5,000/t ($35.3/t) and JPY7,000/t, respectively.
Hot rolled coil, sheared coil/sheet and thick plate are among the products facing a JPY10,000/t reduction in July offers. The list price for flat-rolled pickled products will decrease by JPY12,000/t, while the offers for all other products will remain unchanged.
In overseas markets, the slow recovery in demand in almost all countries and concerns about the impending economic recession are seen by the company as the main reasons for the decrease in steel prices.
Domestically, the rebar market is on a downward trend, but the booming automobile industry will continue to support demand for thin sheet steel. Tokyo Steel expects steel orders to increase from early this autumn, following the summer production cutback period starting next month.
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