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Tokyo Steel, Japan’s leading electric arc furnace (EAF) steelmaker, has raised its flat steel prices by JPY 3,000 (USD 19) per ton for October sales, while keeping long steel prices unchanged.
The company’s HRC prices increased to JPY 103,000 (USD 664) per ton, while pickled and oiled coil rose by JPY 2,000 to JPY 109,000 (USD 703) per ton. Coated coil prices also increased by JPY 2,000 to JPY 138,000 (USD 890) per ton.
In the long steel segment, rebar prices remain at JPY 93,000 (USD 600) per ton, while H-beams are unchanged at JPY 116,000 (USD 748) per ton.
Tokyo Steel cited rising global energy prices, inflation and higher international steel prices, along with increasing import prices and higher production costs. The company said it was raising flat steel prices to restore profitability as cost increases are being passed through the supply chain.
For long steel, the company noted some recovery in construction starts and movement from large-scale projects, but said construction activity remains at a low level and market price increases have been slow. It will therefore keep long steel prices unchanged while monitoring market and exchange-rate trends.
Tokyo Steel is Japan’s largest EAF steel producer, manufacturing a wide range of flat and long steel products from recycled scrap. The company operates four steel plants in Japan with annual crude steel production capacity of around 6 mln tons.
1 USD / 155 JPY