According to foreign media,the biggest steel producer in Tokyo,Tokyo Steel Manufacturing Co Ltd) said that because of the coronavirus  influence  the steel market was sluggish. The company will reduce its price of steel by about 6-11% in April, according to foreign media reports. Tokyo Steel Manufacturing Co Ltd, Japan's largest media producer, said in March 16th. The price cut is the company's first in six months.

Bar prices, including rebar, will be cut by 11.3%, H-beam by 8.4%, hot-dip galvanized coil by 5.5%, and channel steel by 11.1%.

Kiyoshi Imamura, managing director of Tokyo made iron, said that although the impact of actual demand is not as serious as the market expected, Japan's domestic steel plate inventory is high, while overseas market demand is sluggish, and the appreciation of the yen against the US dollar also increases the risk of importing cheap goods from neighboring countries. At present, no construction project has been cancelled due to the spread of the epidemic, but there is still uncertainty in the market, so we need to pay close attention to the market changes.