Tokyo Steel has announced to hike its list prices for certain steel products by JPY 1,000 to JPY 2,000 per tonne and to remain the list prices for the rest of its products unchanged for August 2012 contracts.

According to Tokyo Steel, the price rise of JPY 2,000 per tonne will be applied for pickled & oil cut sheets and the price hike of JPY 1,000 per tonne will be used pickled & oil coils, hot cut sheet and checker plates.

Mr Kiyoshi Imamura executive director of Tokyo Steel said that the price rise was necessary as its price cut for last month was too aggressive.

It's known that Tokyo Steel cut its July list prices by JPY 3,000 to JPY 8,000 per tonne.

Source - www.yieh.com)

(www.steelguru.com)