Tokyo Steel To Freeze Product Prices In August After Hike In July

- Jul 10, 2020-

Tokyo Steel to freeze product prices in August after hike in July

Tokyo Steel Manufacturing Co. Japan's top electric-arc furnace steelmaker, said on Tuesday will freeze product prices in Auqust to make sure that a hike implemented this month will be absorbed by the marketThe company raised its steel product prices by 3.5%-7.3% in July to reflect an upward trend in international markets on strong demand from too buver ChinaOverseas markets have staved solid on the back of demand from China while the Japanese market is slowly recovering, with orders for construction materials picking up, it said in a statement.But local inventories of steel sheets remain high because of a slow rebound in manufacturing activity, it added.

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