Hanwa to Raise Flat Steel Price by 2,000 yen/t

Hanwa Co.’s Osaka and Nagoya offices will increase the selling price by 2,000 yen per tonne for hot rolled steel, pickling steel, cold rolled sheet and electro-galvanizing steel effective on shipment from March 20. The firm tries to improve the profitability through the price hike when the sheet steel supply is improving at home and abroad.

Japanese sheet steel market price shows sign to hit bottom. The price is rebounding for pickling steel and coated steel in Osaka. The supply balance improved when the domestic markers reduced the supply for distributors, the distributors’ inventory progressed and the demand is firm for automobile and construction and industrial machinery.

The market price is increasing in Asia and China. Japanese steel makers also increase the export price. Japanese import of flat steel is expected to decrease when POSCO of South Korea reduces the export to Japan in April-June.

Hanwa’s Osaka and Nagoya offices will increase the selling price under the better market condition. The firm increases the mid-sized hot rolled steel plate price to 58,000 yen per tonne in Osaka and to 60,000 yen in Nagoya.