Since scrap prices continue to decline and Tokyo Steel cut steel ex-factory price, the Japanese H-beam market continued to decline, price of large-size steel SS400 H-BEAM in Tokyo market is 73-74 thousand yen / ton (USD 608-616 / ton) down by ¥ 2,000 / ton over last week, price in Osaka market decreased from 72,000 yen / ton to 71-72 thousand yen / ton.

Distributors said that currently demand for construction steel has not been significant recovery. If there are no improvements in scrap market, the buyer will not accept higher prices.

According to the Japan Iron and Steel Federation data, in July the Japanese H-beam orders of 325,000 tons, down 6.3% month on month and 7.6% year on year.

                                          XINSTEEL NEWS