Japan’s leading electric arc furnace (EAF) steelmaker Tokyo Steel has increased prices for most steel products for July sales, citing rising energy and raw material costs as well as firmer domestic and international market conditions.
The company raised prices for HRC by JPY 2,000 (USD 12) per ton to JPY 100,000 (USD 624) per ton. Pickled and oiled coil prices were also increased by JPY 2,000 per ton to JPY 106,000 (USD 661) per ton, while coated coil prices rose by the same amount to JPY 135,000 (USD 842) per ton.
In the long steel segment, rebar prices increased by JPY 3,000 (USD 19) per ton to JPY 93,000 (USD 580) per ton, while H-beam prices were raised by JPY 3,000 (USD 19) per ton to JPY 116,000 (USD 723) per ton.
Tokyo Steel said manufacturing costs continue to rise amid higher energy and raw material prices, partly driven by ongoing geopolitical tensions in the Middle East. The company added that steelmakers globally are increasingly passing higher costs on to customers, making price adjustments necessary.
The producer also noted that construction activity in Japan is gradually gaining momentum amid expectations of higher material costs and interest rates. In addition, steel prices in overseas markets remain above domestic levels, supported by demand for environmentally friendly steel products.
Tokyo Steel s Japan’s largest electric arc furnace (EAF) steel producer, manufacturing a wide range of flat and long steel products from recycled scrap. The company operates four steel plants across Japan with an annual crude steel production capacity of approximately 6 mln tons.
1 USD / 160 JPY