Tokyo Steel to raise product prices for next January
2020-12-22 11:56:59 [Print]
Tokyo Steel Manufacturing Co
The move comes after the steelmaker hiked prices this month for all its steel products by up to 3.3%, including its main H-shaped beams.
For January, prices for steel bars, including rebar, will be increased by 16% to 73,000 yen a tonne, while prices of U-shaped steel sheet piles will be raised by 11% to 105,000 yen a tonne. Prices of H-shaped beams will go up by 12% to 93,000 yen a tonne.
The prices of steel products abroad have risen sharply due to a supply shortage while higher prices of steel-making raw materials have also forced steelmakers to raise prices, Tokyo Steel said in a statement.
Japan's local market is also tightening, with improved activity in the construction industry and lower stockpiles in steel sheets, the company added, citing another reason for the price hike.
. , Ltd . , Japan's top electric-arc furnace steelmaker, said on Monday it would raise prices in January for all its steel products by 10,000 yen ($97) a tonne, or 11% to 16%, reflecting firmer overseas steel prices and lower local inventories.
The move comes after the steelmaker hiked prices this month for all its steel products by up to 3.3%, including its main H-shaped beams.
For January, prices for steel bars, including rebar, will be increased by 16% to 73,000 yen a tonne, while prices of U-shaped steel sheet piles will be raised by 11% to 105,000 yen a tonne. Prices of H-shaped beams will go up by 12% to 93,000 yen a tonne.
The prices of steel products abroad have risen sharply due to a supply shortage while higher prices of steel-making raw materials have also forced steelmakers to raise prices, Tokyo Steel said in a statement.
Japan's local market is also tightening, with improved activity in the construction industry and lower stockpiles in steel sheets, the company added, citing another reason for the price hike.