Tokyo Steel Hikes December Steel Prices
Japan’s top electric-arc furnace steelmaker Tokyo Steel Manufacturing Co Ltd would raise prices in December for all its steel products by 2,000 yen (USD 19)
a tonne, or 2.2% to 3.3%. For December, prices for steel bars, including rebar, will be hiked by 3.3% to 63,000 yen (USD 603) a tonne, while prices of U-shaped steel sheet piles will be increased by 2.2% to 95,000 yen a tonne. Prices of H-shaped beams will go up by 2.5% to 83,000 yen a tonne.
Tokyo Steel said “Overseas markets are expected to stay tight because of strong demand in top buyer China, with US steelmakers operating rates also recovering, while domestic demand is improving and local inventories are declining.”
The company had kept prices steady for November for all its steel products, including its main H-shaped beams.