Tokyo Steel Hikes Hot Coil by 3,000 yen/t, Cuts H-Beam by 3,000 yen/t

Tokyo Steel Manufacturing announced on Monday the firm increases the selling price by 3,000 yen per tonne for sheet steel products for distributors for July order or August shipment. The hot rolled coil price increases for the first time in a year. The firm restarts the sheet steel sales when the firm expects the production restart in early August while the firm didn’t sell sheet products for June order or July shipment after the phreatic explosion at steel making shop of Okayama plant on May 16. The firm reduces the selling price of long products by 3,000 yen. The firm tries to compete with cheaper H-beam selling price by distributors dealing products from integrated steel makers while the firm adjusts the hot coil price under higher offshore market.

The firm supplied some sheet steel with stocked slab after the accident. However, most part of 2 months of existing order is delivered in and after August. The firm tries to catch up with the delayed delivery. The firm increases the selling price when offshore hot coil market reached around FOB US$ 500 per tonne.

The firm reduces the long products price to compete with distributors, who reduced the reselling price for products from integrated steel makers. The firm recognizes H-beam offshore market recovered to FOB US$ 550 per tonne level and ferrous scrap market rebounds but the firm decided to adjust to domestic market level. The H-beam price is almost same level as the price by domestic integrated steel makers.

The firm reduces the spot sales price by 3,000 yen to 53,000 yen per tonne for concrete reinforcing steel bar and to 68,000 yen for H-beam.