Tokyo Steel to raise product prices by up to 4.9% in November

HYUNDAI STEEL

18/10/2021 12:11

TOKYO, Oct 18 (Reuters) - Tokyo Steel Manufacturing Co Ltd
 5423.T , Japan's top electric-arc furnace steelmaker, said on
Monday it will raise some of its steel product prices by up to
4.9% in November to reflect tight market condition. 
    The company kept prices unchanged for all of its steel
products, including its main H-shaped beams, this month.
 urn:newsml:reuters.com:*:nL1N2QG0MO 
    For next month, prices for H-shaped beams, channels and
three other products will be lifted by 5,000 yen a tonne while
prices for steel bars, including rebar, and heavy plates will
rise by 3,000 yen a tonne. 
    Prices of H-shaped beams will climb by 4.7% to 111,000 yen
($971) a tonne with channel rising by 4.9% to 102,000 yen a
tonne.
    Tokyo Steel's pricing is closely watched by Asian rivals
such as South Korea's Posco  005490.KS  and Hyundai Steel 
 004020.KS , and China's Baoshan Iron & Steel Co Ltd (Baosteel)
 600019.SS .
($1 = 114.3600 yen)

 (Reporting by Yuka Obayashi, Editing by Louise Heavens)
 ((Yuka.Obayashi@thomsonreuters.com; +813-6441-1798; Reuters
Messaging:))