Japan’s largest manufacturer of electric arc furnaces Tokyo Steel Manufacturing Co Ltdt will raise prices for steel products in July by 3.5-7.3% to reflect the upward trend in international markets due to strong demand from China. In July, he will increase prices by ¥ 3,000-5,000 ($ 28-46) per tonne, with prices for his H-beams raised to ¥ 81,000. This will raise prices for steel rods, including rebar, to 59,000 yen from 55,000 yen, and for hot-dip galvanized steel coils to 70,000 yen from 67,000 yen.
He added: “Domestic demand is also expected to rise as construction projects have resumed activity after Japan began lifting restrictions caused by the coronavirus and stocks of building materials are extremely low.”
The company left prices for all of its products unchanged in June for the second month in a row.