Tokyo Steel Reduces March Product Prices, Extends Output Cuts

By Masumi Suga and Yoshifumi Takemoto

Feb. 16 (Bloomberg) -- Tokyo Steel Manufacturing Co., Japan’s largest maker of girders, said it will reduce product prices for March contracts and extend production cuts into April

Prices will drop by between 3,000 yen ($33) a metric ton and 10,000 yen a ton, Managing Director Naoto Ohori said at a media briefing in Tokyo today. The company will extend its 50 percent production cuts for January to March into April, he said.

To contact the reporters on this story: Masumi Suga in Tokyo at msuga@bloomberg.net; Yoshifumi Takemoto in Tokyo at ytakemoto@bloomberg.net.