Reaction mixed to Tokyo Steel's savage price cuts for Oct sales

The decision of Tokyo Steel Manufacturing, Japan's largest independent mini-mill, to slash domestic sales prices of almost all its steel products has received mixed reviews, with some Japanese industry pundits arguing it could push market prices lower, while others say it should halt the slide.

Announcing its price policy for October shipment on Tuesday morning, Tokyo Steel cut prices of its beams and sheet piles by Yen 12,000/tonne ($82/t) and those of most other items including hot coils and rebars by Yen 3,000/t, as Mysteel Global reported. The only prices left unchanged were those