Tokyo's SS400 ms plate and so on steel price rose by 7.3% in July

On June 16, Tokyo steel, Japan's largest maker of electric arc furnaces, said it planned to raise SS400 ms plate and so on steel prices by 3.5-7.3% in July.

The company said the price hike was mainly due to strong demand from China, which supported the continued improvement of the international market. The company had announced that SS400 ms plate and so on steel prices would remain unchanged in June.

Tokyo steel said in the announcement that SS400 ms plate and so on steel price will be increased by 3000-5000 yen / ton (28-46 US dollars / ton) in July, among which the price of H-beam steel will be increased from 76000 yen / ton to 81000 yen / ton.

The price of screw steel was increased from 55000 yen / ton to 59000 yen / ton, and that of hot-dip galvanized steel coil was increased from 67000 yen / ton to 70000 yen / ton.

The company said it expects domestic demand to rebound as Japan eases its anti epidemic measures and the construction industry recovers, while inventories of construction materials are generally low.