Tokyo Steel Hikes All Steel Items 3,000-7,000 yen/t

Tokyo Steel Manufacturing announced on Monday the firm increases the selling price by 3,000-7,000 yen per tonne for all steel items for distributors for May order. The total price hike is 15,000-18,000 yen in the year after the across the board hikes for 4 months in a row.

The firm tries to pass higher cost mainly due to higher raw materials market under strong demand. The price hike is 4,000 yen per tonne for hot rolled coil, 5,000 yen for H-beam and 3,000 yen for wire rod and concrete reinforcing steel bar. The firm increases the price by 7,000 yen for I-beam and channel after the firm reduced the order receipt for April order for better supply balance.

The firm decided the increase to reflect current market condition including international market. The firm expects steel market price will keep increasing due to better stock balance and seasonal demand recovery.

The firm tries to realize sustainable pricing by adjusting the selling price flexibly while the firm sought large price hike 2 years ago. The firm will adjust the pricing depending on the market at home and abroad while ferrous scrap cost is peaking recently.

The firm raised the spot selling price by 1,000 yen per tonne for domestic buildings last week. The price increased to 80,000 yen for H-beam, 68,000 yen for rebar, 77,000 yen for plate and 76,000 yen for cut sheet steel.