Japan's Tokyo Steel had cut its July's steel contract price by ￥7,000~9,000/ton.

This is the first time that the company to cut its steel price since January, 2010. Tokyo Steel’s H-beam price is reduced by ￥7,000/ton/ to ￥72,000/ton, and HRC price is prevailing at￥65,000/ton.

The company has also slashed ￥7,000/ton for its prices for shaped steel bar and heavy plate.