Japan’s biggest construction steelmaker, Tokyo Steel, said on Monday it would cut its November steel prices on dropping demand.

As the rising exports to China and other Asian countries, Japanese steel output increased after April. However, the steel oversupply in China blurs the outlook for the market.

Tokyo Steel would cut its H-beam pries by ¥5,000~6,500/ton for November shipments.

Source: Yieh.com