Tokyo Steel Hikes by 5,000 yen/t for Plate, 3,000 yen/t for H-Beam

Tokyo Steel Manufacturing announced on Monday the firm increases the selling price by 2,000-5,000 yen per tonne for long and plate products for distributors for September shipment, for which the firm accepts the order until Wednesday. The H-beam price reaches 80,000 yen per tonne both for distributors and direct sales to users through the 3,000 yen hike, which is first hike in 6 months. The plate price reaches 83,000 yen under the strong demand after the 3,000 yen hike. The firm expects domestic strong demand will lift the long products market price. The firm increases the size extra charge by 2,000-4,000 yen per tonne for 4 H-beam sizes. The firm also increases the selling price by 2,000 yen for I-beam, channel, concrete reinforcing steel bar and wire rod and by 3,000 yen for sheet pile. The firm sees the sheet steel market recovers after sharp rebound of Chinese market. The firm leaves the selling price of sheet steel unchanged for September order, for which the firm keeps the price for 4 months, to find the timing for the hike. The firm also increases the plate price from the own inventory by 5,000 yen to 87,000 yen per tonne. The firm expects the H-beam output is more than 110,000 tonnes in August and more than 120,000 tonnes in September compared with more than 100,000 tonnes in July. The hot coil output is monthly 70,000-80,000 tonnes recently.