TOKYO -- Steel products in Japan have become cheaper than water by weight, plummeting in price due to an intense competition among distributors, undermining consolidation efforts by the steelmakers that had been increasing prices.
Materials
Steel cheaper than water in Japan as distributors drive down prices
Cutthroat competition among myriad wholesalers raises calls for consolidation
Japan's steelmakers have reduced capacity to support prices in recent years but may be forced to make additional cuts. (Photo by Sae Kamae)
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