Japan Electric Furnace Steels Seek 10,000 yen/t or More Hike

Tokyo based steel bar maker, Asahi Industries announced on Wednesday the firm increases the selling price of structural carbon steel products by 10,000 yen per tonne for April order. The firm tries to pass higher cost for ferrous scrap and subsidiary materials through the hike after 10,000 yen hike for February. With higher cost factors, electric furnace steel makers try to realize wide hike. Tokyo based angle maker, Tokyo Kohtetsu announced on Wednesday the firm increases the selling price of equal and unequal angle by 10,000 yen per tonne for April shipment. The firm also adds 5,000 yen per tonne for spot sales under strong demand and higher freight cost. Kyoei Steel’s Yamaguchi plant will increase the selling price of concrete reinforcing steel bar by 12,000 yen per tonne for April. The plant increases the price by 10,000 yen for structural steel, equal angle and flat bar and by 15,000 yen for I shaped bar for grating.