Tokyo Steel rolls over carbon steel prices for Oct sales
Source：Mysteel Sep 14, 2021
ABSTRACT:
Tokyo Steel Manufacturing, Japan’s leading electric-arc-furnace producer, announced on September 14 to keep all its carbon steel finished products prices unchanged for October sales, using the one month to review how much of its previous price hikes have been absorbed by the spot market and to monitor the steel market development both at home and abroad.
- This will be the second month in a row for the mini-mill not to move its finished steel prices, as in September, the only price rise was for pickled cut sheet by by Yen 3,000/tonne ($27/t) due to supply tightness and higher production costs, Mysteel Global noted.
- Meanwhile, the market is mixed with positive and negative news, Mysteel Global understood from Kiyoshi Imamura, Tokyo Steel’s managing director, as on the one hand, flats supply tightness has delayed the progress of some domestic construction projects, but the situation is improving with demand of construction steel expected to rise in the second half of FY21 (October-March 2022).
- Meanwhile, “the impact of auto production cuts on flat steel products is still uncertain, though supply has appeared tight despite the producers’ running at their full capacities, so the previous price hikes by the steel mils will probably be accepted fully soon,” he predicted.
- On the other hand, uncertainties still hover above the overseas steel market because of the new wave of the COVID-19, and steel demand in Southeast Asia, for example, has been dampened.
- Besides, Tokyo Steel is also assessing the impact of China’s less steel output on the global steel market, which “we need to monitor closely and act cautiously,” he added.
Tokyo Steel’s finished steel list prices for Oct (selected)
|
Product |
Yen/t |
$/t (equivalent) |
|
Galvanized coil (SGC400, 0.6-0.7mm) |
142,000 |
1,290 |
|
Pickled cut sheet (SPHC, 1.6mm 914×1,829mm) |
128,000 |
1,163 |
|
Square pipe (TSC295, 150x150mm, 6mm thick) |
120,000 |
1,090 |
|
Pickled coil (SPHC, 1.7-6mm) |
120,000 |
1,090 |
|
U-sheet pile (SY295) |
118,000 |
1,072 |
|
Hot cut sheet (SPHC,1.6mm 914×1,829mm) |
116,000 |
1,054 |
|
Plate (SS400, 9-40mm) |
112,000 |
1,017 |
|
I-beam (SS400, 150x125mm) |
111,000 |
1,008 |
|
HRC (SPHC, 1.7-22mm) |
110,000 |
999 |
|
H-beam (SS400, 100x200mm) |
106,000 |
963 |
|
Channel (SS400, 100x50mm) |
102,000 |
926 |
|
Rebar (SD295A, 13-25mm dia) |
86,000 |
781 |
Source: Tokyo Steel Manufacturing
- As for output, Tokyo Steel targets to produce 235,000 tonnes of finished carbon steel this month, up 30,000 tonnes on month, among which, hot-rolled coils (HRCs) will account for 115,000 tonnes with 35,000 tonnes for exports, H-beams at 75,000 tonnes, plates at 30,000 tonnes, and others such as rebars and square pipes at 15,000 tonnes, according to the company official.
- Meanwhile, inquiries from overseas buyers have thinned with the latest bids for 3mm SPHC HRC at $1,050-1,100/t FOB, down $50/t on month, and those for SS400 200x100mm H-beams at $920-040/t FOB, unchanged on month, he shared, adding that the volumes involved still exceed the mill’s export quota.
Post time: Sep-14-2021