SMM9 March 15: Tokyo Iron and Steel, Japan's largest electric arc furnace steelmaker, said that due to the pick-up in domestic and foreign demand, the price of some steel will rise by 2.2% in October. 3.4%.
In October, the prices of 10 Tokyo Steel products were raised by 2000 yen ($18.9) per tonne, while the price of hot-rolled coil was raised to 67,000 yen from 65,000 yen per tonne. The price of bars, including rebar, rose from 59,000 yen to 61000 yen per tonne, while the price of hot-dip galvanized coil rose from 89,000 yen to 91000 yen per tonne.
Tokyo Iron and Steel says demand in China is strong and overseas consumption is picking up. And domestic demand in Japan has also recovered, especially in the manufacturing sector.
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