Tokyo Steel to raise product prices for July by 3.5%-7.3%
2020-06-16 14:24:18 [Print]
Tokyo Steel Manufacturing Co., Ltd., Japan's top electric-arc furnace steelmaker, said on Tuesday it would raise its steel product prices by 3.5%-7.3% in July to reflect an upward trend in international markets on strong demand from China.
The company kept prices unchanged for all of its steel products in June for a second consecutive month.
For July, it will increase prices by 3,000-5,000 yen ($28-46) a tonne, with prices for its main H-shaped beams being hiked to 81,000 yen ($753) a tonne from 76,000 yen, the company said in a statement.
It will boost prices for steel bars, including rebars, to 59,000 yen from 55,000 yen and for hot-dip galvanized steel coils to 70,000 yen from 67,000 yen.
Domestic demand is also expected to pick up, as construction projects resumed operations after Japan started to lift coronavirus-induced restrictions and inventories for construction materials are extremely low, the company said.
The company kept prices unchanged for all of its steel products in June for a second consecutive month.
For July, it will increase prices by 3,000-5,000 yen ($28-46) a tonne, with prices for its main H-shaped beams being hiked to 81,000 yen ($753) a tonne from 76,000 yen, the company said in a statement.
It will boost prices for steel bars, including rebars, to 59,000 yen from 55,000 yen and for hot-dip galvanized steel coils to 70,000 yen from 67,000 yen.
Domestic demand is also expected to pick up, as construction projects resumed operations after Japan started to lift coronavirus-induced restrictions and inventories for construction materials are extremely low, the company said.
