The company had raised the prices of four steel products by 1.9% in February due to market conditions and rising raw material prices. In March, the prices of hot-rolled coils will remain at 107,000 yen per ton ($713), while H-shaped profile prices will continue at 127,000 yen per ton ($846).
Tokyo Steel's statement noted signs of slowdown in steel product prices, particularly in the United States, but positive results are expected in China due to economic recovery measures.
Meanwhile, while the construction materials sector in Japan is experiencing a weak trend, demand remains strong in the manufacturing sector. However, concerns about potential stagnation in demand exist due to production halts in the automotive sector.
Tokyo Steel's prices are closely monitored by Asian competitors such as Posco and Hyundai Steel from South Korea, as well as Baoshan Iron & Steel Co Ltd (Baosteel) from China.
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