Tokyo Steel announces price hike for September

Tokyo Steel announces price hike for September

Japanese steel producer Tokyo Steel Manufacturing announced yesterday that it would increase prices on most steel products for September orders. With the exception of pickling steel, Tokyo Steel will raise the prices of its steel products by Yen 3'000-7'000 ($27-63) per ton. The price increase will be effective for September orders. As previously reported by SteelOrbis, Tokyo Steel increased in February 2005 its prices for H-beam by Yen 5'000 ($45) per ton and for channel, angle, and bar by Yen 2'000 ($18) per ton. Moreover, in April 2005, the company hiked prices of its hot dip galvanized and debar products by Yen 3'000 ($27) per ton. Tokyo Steel expects steel prices to be firm due to the increasing demand heading into autumn.