Tokyo Steel increases prices for March orders

Tokyo Steel increases prices for March orders

Recent industry reports reveal that Japan producer Tokyo Steel Manufacturing has recently increased sales prices of all its steel products for March order. Accordingly, price of hot rolled coil per ton increased by Yen 10'000 ($92) to Yen 62'000 ($572.5), price of H beam per ton increased by Yen 12'000 ($110) to Yen 70'000 ($646.4). It is reported that these increases are the highest price increases the company has effected for the last thirty years. Moreover, pickling coil, hot dip galvanizing (HDG) coil, checkered steel plate, channel steel and angle prices are all increased by Yen 10'000 ($92) per ton, while the increase in the prices of H beam, I beam and wire rod is Yen 12'000 ($110) per ton. The price of concrete reinforcing bar is increased by Yen 6'000 ($55) per ton. The increase in the prices is stated to be effected as a result of surging raw material costs.