Japanese steel producer Tokyo Steel has increased prices for a number of steel products, including rebar, H-beam and plate, in July amid the positive situation in the overseas market, high raw material prices and tight supply in Japan.
Rebar and H-beam prices from Tokyo Steel have increased by JPY 3,000/mt ($27/mt) to JPY 86,000/mt ($774/mt) ex-works and JPY 106,000/mt ($955/mt) ex-works, respectively. Apart from better demand for building materials, “market inventories are generally low,” Tokyo Steel said, adding that the summer production cuts have started to be seen in Japan, and so the market will remain balanced and prices will be supported.
Prices for heavy plates have increased for the second month in a row - by JPY 3,000/mt ($27/mt) from last month to JPY 110,000/mt ($991/mt) ex-works. Other flat steel product prices have been stable. The price level for HRC with thickness above 1.7 mm has remained at JPY 110,000/mt ($991/mt) ex-works.
“In the flat steel segment, although the inventory of thin sheets has increased slightly, it has remained at a low level, and the shortage of some grades has not been resolved,” the producer said.