TOKYO -- Steel prices in Japan are slumping in a market awash in Chinese products, with hot-rolled steel sheet hitting a four-year low.
The distribution price in the Tokyo area for 1.6-millimeter hot-rolled steel sheet is roughly 112,500 yen ($766) per metric ton, down 4% since the end of June and the lowest since August 2021. Such prices peaked in summer 2022 before entering a downward trajectory.
