Tokyo Steel to raise prices for pickled and oiled sheets in September

Tokyo Steel Manufacturing

17/08/2021 08:21

TOKYO, Aug 17 (Reuters) - Tokyo Steel Manufacturing Co Ltd
 5423.T , Japan's top electric-arc furnace steelmaker, said on
Tuesday it will raise prices of pickled and oiled sheets by 2.4%
in September while keeping other product prices unchanged. 
    The company raised prices by up to 4.7% for some of its
steel products including its main H-shaped beams in August to
reflect a tight market situation.  urn:newsml:reuters.com:*:nL4N2OP19C 
    Prices for pickled and oiled sheets -- hot rolled steel is
pickled in acid to remove the mill scale and then oiled to keep
it from rusting -- will increase by 3,000 yen ($27) a tonne to
12,6000 yen ($1,153) a tonne next month. 
    "Inventories of sheet products remain low, with shortages
seen in some products," Tokyo Steel said in a statement.
    "We anticipate increased production activity in the
automobile, industrial machinery, shipbuilding and other
manufacturing industries in October-March period, and we expect
the market will stay tight," it said.
    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 = 109.3000 yen)

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