Construction Steels Market Price to Increase around Tokyo

Market price of construction steel products would increase around Tokyo when the steel makers announced the price hike. Electric furnace steel makers increased the price of H-beam after Tokyo Steel Manufacturing increased H-beam price by 5,000 yen per tonne for September shipment. Nippon Steel also noticed 5,000 yen hike to the dealers. The dealers are likely to increase construction steels reselling price.

Sumikin Steel & Shapes, Yamato Steel and Nippon Steel increased H-beam price by 5,000 yen per tonne for September shipment, following the price hike by Tokyo Steel. JFE Steel is expected to follow the price hike. On the other hand, dealers aim to increases the reselling price from 67,000-68,000 yen around Tokyo. The dealers increase the offer to 75,000 yen in September.

Osaka Steel and JFE Bars & Shapes increased section steels price by 3,000 yen per tonne for September shipment and by 5,000 yen for October shipment. The dealers aim to increase the reselling price and offer to 78,000 yen after realizing the price of 73,000 yen.

The joint sales company of Godo Steel and Tokyo Tekko increased concrete reinforcing steel bar price by 3,000 yen per tonne for September shipment and by 5,000 yen for October shipment. The reselling price increased to 60,000 yen for some transactions.

Dealers aim to increase the reselling and offer price of flat steel bar by 8,000 yen per tonne until mid-September when Oji Steel hiked the product price by 8,000 yen.

Other construction steels price would increase following H-beam. Steel column is also traded at higher price when the dealers avoid low priced transaction.