Tokyo Steel hikes local prices by $26-44/mt for next month as demand exceeds supply

Tuesday, 19 October 2021 17:21:57 (GMT+3)   |   Istanbul
       

Japanese steel producer Tokyo Steel has decided to increase prices for longs and heavy plates for the domestic market by JPY 3,000-5,000/mt ($26-44/mt) for November. The main reasons are visibly higher demand and the tightness of supply, especially in the long steel segment, which may continue in the near future.

H-beam prices from Tokyo Steel have increased by JPY 5,000/mt ($44/mt) to JPY 111,000/mt ($971/mt) ex-works, as well as other section prices. In addition, the rebar price level has reached JPY 89,000/mt ($779/mt) ex-works, up by JPY 3,000/mt ($26/mt) for now. “In the domestic market, the inventory level of construction steel is below the appropriate level, and, in addition, while there are shortages of some materials, inquiries to manufacturers are increasing,” a producer said.

In the flat steel segment, Tokyo Steel has hiked prices only for heavy plate - by JPY 3,000/mt - as “the supply is expected to decrease further, and the supply-demand balance will become even tighter [amid expected rises in demand from shipbuilding,” according to the mill’s report. Prices for HRC with thickness above 1.7 mm have remained at JPY 110,000/mt ($963/mt) ex-works. 


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