Tokyo Steel to Hike All Items by 5,000-7,000 yen/t

Tokyo Steel Manufacturing announced on Monday the firm increases the selling price by 5,000-7,000 yen per tonne for all items for distributors for February order from January order. The firm increases the price of all items for the first time in a year. The firm said the firm decided the price hike of all items when overseas steel products price is increasing rapidly in additionally to increased price of ferrous scrap, ferroalloy and energy prices. The firm increases the price of H-beam for the first time in 5 months since September 2007, hot rolled coil for 2 consecutive months, and steel plate by 7,000 yen per tonne.The firm increases the selling price by 5,000 yen to 73,000 yen per tonne for reinforcing steel bar in February order, by 6,000 yen for other long products. The firm said the delay of building certification by the revision of Japanese building standard law is being resolved by degree.The firm increases the selling price by 7,000 yen to 90,000 yen per tonne for steel plate, by 5,000 yen for steel sheet products. The demand for steel plate keeps good. Especially, the firm contracted the steel plate contract price to South Korean shipbuilders at FOB US$ 950 per tonne which was higher level. The firm aims to increase to US$ 1000 per tonne to Vietnam and Chinese shipbuilders.Moreover, the firm increases steel grade extra price of high grade steel products by 2,000 yen per tonne when ferromanganese price is increasing by a large margin due to strong steel demand in developing countries.