Tokyo Steel Launches Plate at 78,000 yen/t

Tokyo Steel Manufacturing announced on Monday the firm launches plate steel for February order, for which the firm accepts order until Wednesday. The firm markets the new item of plate after the hot running test at Kyushu plant since January 15. The firm offered 78,000 yen per tonne for SS400 grade, which is higher than estimated 75,000 yen by integrated steel makers. The firm also increased the selling price 2,000-5,000 yen for all existing items. The firm built plate mill with continuous slab caster and related facilities for 25 billion yen at the space of angle making mill, of which the firm stopped operation in August 2005. The firm ships the plate with 9-32 millimeters thick, 2,100 and 2,438 mm width for construction and machinery applications from the mill with annual 500,000 tonnes of output capacity. The firm will supply SM and SN grade of plate in future. The firm increased the hot rolled coil price by 3,000 yen to 68,000 yen per tonne for February order, which is the first hike in 8 months. The firm also increased the price by 2,000 yen to 75,000 yen for H-beam, by 4,000 yen to 63,000 yen for concrete reinforcing steel bar and by 5,000 yen to 67,000 yen for wire rod. The firm is confident about firm demand at home and abroad. The firm, however, expects smaller output in January-March from October-December due to planned maintenance. The firm was estimated to produce 135,000 tonnes of H-beam and around 70,000 tonnes of hot coil in December.