Tokyo Steel Manufacturing Co Ltd, Japan's largest electric arc furnace steel maker, said on Tuesday that it will raise the price of steel products by up to 9% in April to reflect higher raw material prices.
For the second month now, the company has been raising prices for its steel products, including the main I-beams.
In April, hot rolled coil prices will rise 9% to 120,000 yen ($995) per ton, while H-beam prices will rise 6% to 121,000 yen per ton.
“Prices of materials for steel production have risen due to supply problems due to the crisis in Ukraine, and prices of foreign steel products are also rising,” Tokyo Steel said in a statement.
“We will raise the prices of our products to avoid rising costs, including material costs,” the company added.
Tokyo Steel prices are closely watched by Asian competitors such as South Korean Posco 005490.KS and Hyundai Steel 004020.KS, as well as China's Baoshan Iron & Steel Co Ltd (Baosteel) 600019.SS.
Tokyo Steel raises product prices up to 9% in April
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Azovpromstal® 23 March 2022 г. 11:49 |
