Sumikin Steel & Shapes to Raises H-Beam by 2,000 yen/t

Wakayama based Sumikin Steel & Shapes decided to increase the H-beam price by 2,000 yen per tonne for October order. The Sumitomo Metal Industries’ wholly owned subsidiary, which produces H-beam at Wakayama and Kashima, Ibaraki, tries to cover higher cost for ferrous scrap and other materials. The firm tries to keep the low level supply to reduce distributors’ inventory, especially around Osaka after the output reduction in August and September.