Tokyo Steel hikes its sales prices

Japanese steelmaker Tokyo Steel Manufacturing announced yesterday that it increased its sales prices by Yen 2,000-4,000/ton ($17-34/ton) for May orders. Accordingly, the sales price of hot rolled coils was increased by Yen 4,000/ton to Yen 62,000/ton ($529/ton) while that of rebar was increased by Yen 2,000/ton to Yen 56,000/ton ($478/ton). The company indicated that the prices were increased in order to close the gap between its prices and global prices.