To guarantee that price increases introduced earlier this year would be absorbed by the market, Tokyo Steel Manufacturing Co Ltd, Japan's largest electric-arc furnace steelmaker, said it will maintain steel product prices stable in July.
For the second consecutive month, the business maintained the same prices for all of its steel goods, including its primary H-shaped beams.
Prices for H-shaped beams will continue at JPY 124,000 (USD 919) per ton in July, while prices for steel bars, including rebar, will remain at JPY 102,000 (USD 757) per ton.
According to a statement from the firm, global steel prices are still under pressure as a result of China's sluggish distribution and production owing to severe coronavirus lockdowns in several locations.
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