Tokyo Steel Manufacturing Co, Japan’s top EAF, has announced a price increase in December of JPY 3,000/mt ($26.7/mt) on its products. The company left product prices unchanged in November after raising them in the previous two months.
This increase translates to prices for steel bars, including rebar to JPY 65,000/mt ($577/mt) an increase of 4.8 percent, while prices for U-shaped steel-sheet piles will rise to JPY 96,000/mt ($853/mt) reflecting a 3.2 percent increase, both in ex-warehouse terms.
The increase is due to tight market conditions at home and abroad. Tokyo Steel’s Managing Director, Kiyoshi Imamura said, “Demand in Japan’s local market has been strong due to redevelopment projects in Tokyo and construction projects related to the 2020 Tokyo Olympics along with increased demand from overseas as China slashes its exports.” He predicted that a healthy trend in steel market will continue through next year.
$1 = JPY 112.57, (Nov 20)