Tokyo Steel Manufacturing, a leading manufacturer of steel for electric arc furnaces in Japan, said it will raise prices of some of its steel products by 4.9% in November to reflect difficult market conditions.
The company kept prices for all steel products, including the main H-beams, unchanged this month.
Next month, prices for H-beams, channels and three other products will rise by ¥ 5,000 per tonne, while prices for steel rods, including rebar, and thick plate will rise by ¥ 3,000 per tonne.
H-beam prices will rise 4.7% to ¥ 111,000 (US $ 971) per tonne, while channel prices will rise 4.9% to ¥ 102,000 per tonne.
Tokyo Steel's prices are closely watched by Asian competitors such as South Korean Posco 005490.KS and Hyundai Steel 004020.KS, as well as China's Baoshan Iron & Steel Co Ltd (Baosteel) 600019.SS.
Tokyo Steel will raise prices for rolled metal products in November
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