Tokyo Steel Raises Steel Price at Home, Abroad

Tokyo Steel Manufacturing tries to increase selling price for domestic projects and export when the market condition gets improving at home and abroad. The firm increased the concrete reinforcing steel bar selling price by 1,000 yen per tonne for domestic projects on Monday under higher ferrous scrap cost and better market situation while the firm increased H-beam project selling price by 1,000 yen for the low priced transaction.

The firm increased the rebar price by 1,000 yen per tonne for projects on Thursday, which was the first increase since late December 2011. The firm increases the H-beam project price by 1,000 yen for low priced transaction last week. The price increased to 59,000 yen for rebar and targets 74,000 yen for H-beam.

The firm announced on February 20 the firm left the selling price unchanged for all steel items for distributors for March order. The firm recognized oversupply market condition but the firm now sees better market at home and abroad. The firm already booked production schedule for March at all plants. The firm now accepts order for production in April and May.

The director Kiyoshi Imamura said the export market improves in price and yen exchange rate. The firm tries to improve the domestic selling price for projects when the firm sees with the improving export price, the gap with domestic price increases.

The firm restarted the export after 6 months blank. The firm got export order for all items for April and May shipment while the firm doesn’t offer rebar export. The export price increased by US$ 10 to FOB 670-680 per tonne for hot rolled coil and US$ 780-790 for shapes from previous week. The firm targets US$ 700 for hot coil and US$ 800 for shapes. With lower yen rate, the firm expects better profitability in export.

Japanese electric furnace steel makers recognize the improving market condition. Kyoei Steel holds the offer of rebar products on Monday at Yamaguchi plant. The firm tries to improve the price to cover higher scrap cost. Yamato Steel announced on Monday the firm increases H-beam selling price by 3,000 yen per tonne for projects.