Godo Steel to Increase Wire Rod Price by 10,000 yen/t

Godo Steel announced on Friday the firm increases steel wire rod and bar in coil price by around 15% or 10,000 yen per tonne for March shipment. The firm reflects higher ferrous scrap cost to improve the profitability.

Godo Steel increases the price of low grade wire rod and bar in coil in February shipment. The firm reduced the low grade products price to match low priced import in second half of 2010. However, the firm aims to improve the profitability while the price of imported wire rod and wire products is increasing.

Godo Steel also increases the price of deformed steel bar in coil to 70,000 yen per tonne for February shipment while concrete reinforcing steel bar price increased.

Tokyo Steel Manufacturing increased ferrous scrap purchase price by 500 yen per tonne at all plants except for Utsunomiya plant on Friday. The price is 38,500 yen for Okayama plant, 38,000 yen for Kyushu plant, 36,500 yen for Takamatsu plant, 37,500 yen for ocean transport and 38,000 yen for land transport to Tahara plant.