Tokyo Steel Manufacturing Co, Japan's biggest construction
steelmaker will hike its product prices by 2,000 yen/t ($24) in April except
for thick plates, to reflect higher
prices in Asia and a weaker yen.
Tokyo Steel's director Kiyoshi Imamura said a news conference
today that after the previous weeks weakening yen to an 11-month low against
the dollar, the Japanese manufacturer's exports alongwith demand supply balance
is rapidly improving in the domestic steel market.
“This will become the first of a series of rate hikes if
export conditions improve further in the next month,” he added..
Exports to Japan by Posco, Bao Steel and others have increased due
to slow domestic markets and the weakening currencies.
Source: Reuters
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