Tokyo Steel Raises All Steel Items by 1,000-3,000 yen/t

Tokyo Steel Manufacturing announced on Monday the firm increases the selling price for all items for distributors for September order, which is the first full scale hike for 4 months. The firm increases the price by 3,000 yen per tonne for shapes, by 2,000 yen for flat steel and by 1,000 yen for wire rod and concrete reinforcing steel bar. The firm tries to improve the profitability when Chinese steel price increases and raw materials price rebounded. The firm eyes additional price hike depending on the market condition when the firm expects the steel market price shows significant recovery under increasing demand.

The firm sees domestic steel demand hit the bottom and will increase toward demand season of autumn. The firm increases the production by monthly 10,000 tonnes level when the order increases even for small sized buildings along with large buildings.

The firm increases the selling price for each building project by 3,000 yen to 73,000 yen per tonne and by 2,000 yen to 59,000 yen for rebar and to 72,000 yen for plate steel.

The firm plans 200,000-230,000 tonnes of production each in September and October. The hot rolled coil production is 70,000-80,000 tonnes at Okayama plant and 100,000 tonnes level including Tahara plant production. The firm plans 55,000 tonnes for H-beam and 35,000 tonnes for plate.

The firm got 5,000 tonnes of hot coil order at FOB US$ 650 per tonne for Southeast Asia when the offshore market recovers. The firm increased the offer to US$ 670 for hot coil and US$ 750 for H-beam.