Japan Steels to Hike Long Products by 3,000 yen/t

JFE Bars & Shapes announced on Tuesday the firm increases the selling price by 3,000 yen per tonne for equal angle, channel and unequal angle for March order. Kyoei Steel increased the selling price of concrete reinforcing steel bar by 3,000 yen to 67,000 yen per tonne for base size products for March order. They try to pass the higher ferrous scrap cost. JFE Bars & Shapes tries to pass the higher ferrous scrap cost through the hike after the 2,000 yen hike in January order. The firm keeps rejecting 20% of the order from distributors depending on the inventory level and areas though the firm expects the demand keeps firm. Kyoei Steel said the lead time is near 2 months under the full booked rolling schedule. The firm decided the additional hike after 3,000 yen per tonne hike for January order and 2,000 yen hike for February.