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Tokyo Steel to raise December prices by USD 45 per tonne-The 18th China(Guangzhou)Int’l Metal &Metallurgy
;Exhibition
11/23/2016 steel expo-metal &metallurgy expo |
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Reuters reported that Tokyo Steel Manufacturing Co Ltd would raise the prices of all of its products by JPY 5,000 (USD 45.12) per tonne for December delivery, reflecting a rally in raw material prices and higher product prices abroad.
Based on the flat increase, prices for the Tokyo Steel''s main product, H-shaped beams, which are used in construction, will climb by 8% to JPY 70,000 per tonne. Steel bars, including rebar, will rise by 11% to JPY 52,000. The company produces 15 different steel products. This is its first across-the-board price hike since May.
Mr Kiyoshi Imamura MD of Tokyo Steel told reporters that the flat increase means product prices for Japan''s top electric-arc furnace steelmaker will rise by about 7 to 11% in December depending on the product. The increase comes amid rising prices for scrap metal and a series of price hikes by global steel mills to pass on surging coking coal prices.
Mr Imamura said that "Global steel market has entered in a clear bullish trend as steelmakers worldwide have been boosting product prices in the face of surging coking coal prices.”
He said “Recycled scrap metal, a main feed material for electric-arc furnaces, has soared by 5,000 to 7,000 JPY a tonne since hitting a bottom in August, tracking a rally in coking coal, a key steelmaking material for blast furnaces.”
Tokyo Steel left its prices unchanged in November but cut October delivery prices by up to 13%.
-The
18th China(Guangzhou)Int’l Metal &Metallurgy Exhibition
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