Tokyo Steel Raises Rebar, Wire Rod, I-Beam, Channel by 2,000 yen/t

Tokyo Steel Manufacturing announced on Monday the firm increases selling price by 2,000 yen per tonne for concrete reinforcing steel bar, wire rod, I-beam and channel for distributors for December order. The price increase is for the first time in 3 months for rebar, wire rod, I-beam and channel. The firm also cuts selling price by 2,000 yen for plate, which represents drop for 2 months in a row. The firm left selling price unchanged for other items.

The firm reduced the plate price when the supply condition is till middle of adjustment. The firm decided to increase some of the items when the firm expects ferrous scrap price will increase and iron making raw materials including iron ore and coking coal is expected to increase. The firm, however, left selling price unchanged for H-beam and hot rolled coil.

The firm is reluctant to get export order while the firm gets inquiry at FOB US$ 470-480 per tonne for hot coil from buyers in South Korea and Southeast Asia. The firm got H-beam export order at FOB US$ 620 for December shipment from South Korea.

The firm offers 54,000 yen per tonne for rebar, 67,000 yen for H-beam and 63,000 yen for plate for the selling from the inventory.

The firm expanded the plate steel order receipt to 60 millimeters thick from December order.

The firm expects the H-beam output is 55,000 tonnes in November, which represents around 70% of normal level. The firm plans to make 40,000-50,000 tonnes production for hot coil and 15,000-20,000 tonnes for plate. The raw steel output is around 150,000 tonnes.