Tokyo Steel To Raise Product Prices For Next January
- Dec 21, 2020-
Tokyo Steel Manufacturing Co. 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 inventoriesThe 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. inc ludina rebar, will be increased by 16% to 73.000 ven a tonne. while prices of U-shaped steel sheet piles will be raised by 11% to 105.000 ven 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 steelmakina raw materials have also forced steelmakers to raise prices. Tokvo 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. citina another reason for the price hike.
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