Tokyo Steel hikes H-beam prices
Japanese steel producer Tokyo Steel Manufacturing announced that it would increase the sale prices of H-beams and I-beams by Yen 5'000 ($47) per ton for March contracts. Accordingly, the base price for I-beams will be Yen 67'000 per ton. Moreover, prices of channel steel, angle steel, and deformed steel bar will be increased by Yen 2'000 ($19) per ton. The prices of channels and angles will reach Yen 63'000 per ton and Yen 59'000 per ton, respectively. The company cited the need to close the gap between international and Japanese prices as the reason for its decision to raise prices.