Reuters reported that Tokyo Steel Manufacturing Co would keep prices unchanged in February 2012, seeking to stem an inflow of cheaper imports, but added that the market shows signs of improvement on growing reconstruction demand.
Its pricing strategy is closely watched by Asian rivals like Hyundai Steel, POSCO and Baosteel, which have ramped up capacity, aiming to take advantage of their weaker currencies to boost exports to Japan.
Mr Kiyoshi Imamura, marketing director at Tokyo Steel, said that "We hope to raise prices but the current yen rate and a potential rise in imports make it difficult to do so."
The company is hoping that China will ease its lending policy after the Lunar New Year break, stimulating steel demand.
Mr Imamura said that in Japan, demand for construction steel has picked up since late last month on rebuilding of Japan's northeast that was devastated by massive earthquake and tsunami in March 2011.
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