|  | 23/08/2004 |
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Tokyo Steel Raises Hot Coil Price by 4,000 yen for September
Tokyo Steel Manufacturing announced on Friday it increased hot rolled coil price by 4,000 yen to 70,000 yen per tonne for September order, the highest level since the release in March 1992. The firm increased flat steel price for 2 consecutive months under tight supply caused by firm demand at home and abroad. The firm increased universal plate price by 3,000 yen to 70,000 yen. The firm left long products prices unchanged except for 2,000 yen hike for wire rod. The firm eyes price hike for long products after October order toward demand season.
The firm released hot coil products at 60,000 yen per tonne in March 1992 after it succeeded commercial production at Okayama plant in the end of 1991. After long-time decrease the price turned into increase since last year to 60,000 yen in March 2004.
The firm increased selling price by 4,000 yen to 76,000 yen per tonne for pickling coil, to 83,000 yen for hot dip galvanizing steel and to 73,000 yen for checkered plate for September order.
The firm said offshore sheet market increased to $700 per tonne in Russia and China, and US market with $800 leads world market. The firm expects domestic demand keeps firm for capital expenditure. The firm is trying to increase selling price under expectation of tighter picking coil supply toward demand season for automobile in January-March.
The firm almost finished summer shut down in its operations except for Utsunomiya plant to August 28. The firm will supply molten steel selectively for sheet products to keep full capacity operation.
The firm targets $600 per tonne for hot coil and $750 for galvanizing steel of export price for October and November shipment when it got $570 for hot coil. The firm tries to catch up with higher US market price.
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 | Tokyo Steel Raises Hot Coil Price by 4,000 yen for September
| | Japanese Raw Steel Output in July Increased to 9.549 Million Tonnes
| | POSCO to Raise Steel Sheet Price by 55,000 won
| | Orders of ordinary steel material in Jan.-Jun. rise by 4.3%
| | Japan 5 major steels increase raw steel output by 2% in July
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