Tokyo Steel Hikes All Steel Items by 12,000 yen/t

Tokyo Steel Manufacturing announced on Monday the firm increases the selling price of all steel items by 12,000 yen per tonne for distributors for May order. The price level renews the record for 2 months in a row hitting 100,000 yen for all items. The firm tries to pass higher cost for raw materials under firm steel demand at home and abroad. The price increases to 107,000 yen per tonne for concrete reinforcing steel bar, to 123,000 yen for H-bam, to 112,000 yen for hot rolled coil and to 129,000 yen for plate. The price increased by total 39,000 yen for rebar, by 43,000 yen for H-beam, by 42,000 yen for hot coil and by 46,000 yen for plate. The firm sees Asian market price is catching up to higher US and European price level where the price is around US$ 1,000-1,050 for rebar, US$ 1,200 for H-beam, US$ 1,100 for hot coil and US$ 1,300 yen for plate. However, the firm stopped the export order receipt since February due to limited availability of ferrous scrap. The firm plans to produce 130,000 tonnes for H-beam, around 70,000 tonnes for hot coil and 30,000-35,000 tonnes for plate in April but the firm could reduce the output depending on the scrap availability. The firm said Japan could impose export restriction for scrap when Taiwan limits the export and South Korea and Russia study for potential regulation for the export.