[Ferro-Alloys.com] Reuters reported that Japan’s top electric-arc furnace steelmaker Tokyo Steel Manufacturing Co Ltdt would raise its steel product prices by 3.5-7.3% in July to reflect an upward trend in international markets on strong demand from China. For July, it will increase prices by 3,000-5,000 yen (USD 28-46) a tonne, with prices for its main H-shaped beams being hiked to 81,000 yen. It will boost prices for steel bars, including rebars, to 59,000 yen from 55,000 yen and for hot-dip galvanized steel coils to 70,000 yen from 67,000 yen.
It added “Domestic demand is also expected to pick up, as construction projects resumed operations after Japan started to lift coronavirus-induced restrictions and inventories for construction materials are extremely low.”
The company kept prices unchanged for all of its steel products in June for a second consecutive month.
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