Tokyo Steel Manufacturing Co Ltd has just announced that it will increase the price of heavy plate by 4.9% from July 2021, while keeping the prices for other products unchanged to ensure the increase made this month is achieved. receiving market.

This month, Japan’s leading electric arc furnace steelmaker raised the prices of all its steel products by 17.6%, reflecting an increase in overseas prices and demand. in the country increased.

Tokyo Steel’s steel prices have always been closely watched by rivals in Asia such as South Korea’s Posco and Hyundai Steel and China’s Baoshan Iron & Steel Co Ltd (Baosteel).
Prices of heavy plate steel – used in shipbuilding and construction machinery manufacturing – will increase 5,000 yen ($45) to 107,000 yen per tonne in July, amid further tightening of supply and demand.

The price of main H-beam steel will also increase to 103,000 yen per tonne, according to the Company’s announcement on June 15.
Tokyo Steel said overseas steel product prices will remain high, while domestic prices are likely to catch up with overseas markets due to recovering demand and low inventories.
Source: VITIC / Reuters

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