Tokyo Steel, Sales Prices of Steel Products for November / For Second Month in a Row To Keep Prices Unchanged for All Product Types / Although Making Prices Reflect Surge in Electricity Rates Essential, To Keep Prices Unchanged

摘要

Tokyo Steel announced that for the sales prices of steel products for contracts in November, they will keep the prices unchanged from the previous month for all product types. This will be the second month in a row for the company to maintain prices for all products. Although for the most part overseas market prices seem to have hit rock bottom, there are no noticeable signs of prices rebounding. In the domestic market, the company predicts supply and demand to tighten especially for large-size products due to such factors as the construction work for redevelopment projects set to begin from the beginning of next year. As for sheets, the company expects supply/demand will improve since automobile production is slowly recovering. In terms of plates, the company states there is strong demand for those for use in the shipbuilding and construction/industrial machinery fields. On the other hand, the company will unavoidably see a deterioration in profitability due to the surge in electricity rates and although it is essential for them to make sales pries reflect this surge, they decided to keep prices unchanged for all product types in consideration of the domestic/overseas market environments.