Tokyo Steel, Japan's largest electrical steelmaking company, announced on March 20 that it will raise the prices of some products by about 3% in April, due to limited supply.
In the coming month, prices of 6 products, including H-beam, are 2.2-3% to 3,000¥/t ($436) per ton, L-beams are 2.4% to 127,000¥/t ($18,469) and rebars by 3%. It is expected to increase by ¥103,000 ($14,972).
Hot rolled coils will remain at ¥115,000/t ($16,715) per ton.
Tokyo Steel stated in its statement that it has seen an improvement in the steel market and that the demand for rebars is high, whose market is driven by large-scale logistics facilities.
According to the market analysis, while the demand in the industrial materials sector is flat, the demand for thin plates used in the automotive sector is increasing gradually.
Companies such as Baoshan Iron And Steel, South Korea's Posco company and Hyundai Steel have their eyes on Tokyo Steel's prices.
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