Tokyo Steel Hikes All Items by 3,000-5,000 yen/t

Tokyo Steel Manufacturing announced on Tuesday the firm increases the selling price by 3,000-5,000 yen per tonne for all items for distributors for June order, which the firm accepts until Thursday. The firm increases the all items’ price for 5 months in a row citing the international tight supply and higher cost for raw materials and energy. The firm could restart export in and after September shipment to take chance for higher profitability though the firm stopped export since February.The firm increases the selling price by 5,000 yen per tonne for long products except for wire rod for June order while the firm increases the wire rod and flat steel price by 3,000 yen. The new price is 112,000 yen per for concrete reinforcing steel bar, 128,000 yen for H-beam, 115,000 yen for hot rolled coil and 132,000 yen for plate. The firm said offshore buyers are willing to buy the products at CIF U$ 1,350 per tonne for plate and at US$ 1,100 for hot coil and H-beam. The firm would restart the export when the firm can secure additional supply capacity while the firm stops the export to secure domestic supply. The firm plans 150,000 tonnes of H-beam output and 60,000-70,000 tonnes output for hot coil in May while the plate output decreases to 20,000 tonnes from more than 30,000 tonnes in April. The firm plans maintenance outage for a week for all plants in and after July.