Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
Tokyo Iron and Steel announced on October 21st that the price in November remained the same as in October.
The company S550Q Grade D steel stated that the demand in Japan's construction industry is still generally low, and steel production in winter may decrease. However, with the progress of future public infrastructure projects, the construction steel market may gradually stabilize. Secondly, from the current perspective of the local manufacturing industry, the steel demand in the automotive industry has also slowed down. Japanese automaker Toyota announced at the end of September that its car production from January to August decreased by 5.2% year-on-year to 6.16 million vehicles, while Mazda's S550Q Grade D steel production during the same period decreased by 1.2% year-on-year to 789955 vehicles.
Given the current S550Q Grade D steel market situation both domestically and internationally, in order to ensure that market conditions quickly bottom out, we have decided to keep all product prices unchanged this month, "said Tokyo Steel. Meanwhile, the Japanese Ministry of Economy, Trade and Industry (METI) predicted on October 10th that Japan's steel demand from October to December 2024 will decrease by 2.1% year-on-year, to 19.31 million tons. In addition, consistent with Tokyo Iron and Steel's view on the construction market, METI expects the demand for construction steel to decrease by 0.8% to 4.11 million tons in the fourth quarter of 2024.
