Sumikin Steel & Shapes announced on Wednesday the firm increases H-beam selling price by 5,000 yen per tonne for the distributors for October production. The firm tries to cover higher ferrous scrap cost under improving building demand and dealers’ inventory position. The firm also keeps production cut to meet the demand level. With the price hike, other makers indicate similar actions.Scrap price around Osaka is expected to increase more after the price rebounded from the recent bottom. H-beam makers have increased concern on higher scrap cost when the selling price is already loss making level. Domestic construction demand is expected to recover in second half of fiscal 2011 ending March 2012 when building projects resume the activity after deferment and temporarily stoppage. The market condition improves along with lower steel inventory held by the dealers. The firm decided the price hike under the market situation. Other makers of H-beam and other steel products including concrete reinforcing steel bar would follow the move.
Japan Steel Scrap Composite Prices (Sangyo Press)09/28/2023
|50400YEN (-)||52000YEN (-)|
|334.55US$ (-1.27)||345.17US$ (-1.31)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)