Tokyo Steel adjusted up long products prices for December

November 18 MetalBiz—Tokyo Steel announced on November 16 that the contract prices of debar, wire rod and H-shaped steel will boost 2,000 yuan per ton (U.S.$22 per ton) with the rising cost of raw materials, while the price of heavy plate will decrease 2,000 yuan per ton according to the market.

Previously as the fall of scrap steel price, Tokyo Steel adjusted down the contract prices of all products for November by 2,000-7,000 yuan per ton.

A trader said that other mini-steel-mill may complain about the price cut of debar from Tokyo for November, therefore, it advanced the price this month to boost market sentiment”.

I-beam and channel steel prices will increase 2,000 yuan per ton, but H-shaped steel will be unchanged, which made market surveyors surprised as they thought previously that Tokyo Steel may lift H-shaped steel price to prevent market declining. Presently the price of H-shaped steel from Nippon Steel is about 72,000 yuan per ton, while large-sized H-shaped steel price is still at 65,000 yuan per ton.   

Actually, Tokyo Steel seems to maintain H-shaped steel’s leading position by maintaining price unchanged. Currently large-sized H-shaped steel price is 65,000-66,000 yuan per ton in the current market, down 4,000-5,000 yuan per ton from last month, prior to this, Tokyo Steel announced to adjust down H-shaped steel contract price by 5,000 yuan per ton this month.