In Japan, Tokyo Steel continued to increase its product prices in February

- May 20, 2018 -

In Japan, Tokyo Steel continued to increase its product prices in February. 13 kinds of products increased by 1,000-2,000 yen (9-18 US dollars). According to industry insiders, Tokyo Steel has increased the price of all products by 3,000 yen per ton in December and January last year, and this time it continues to increase prices, indicating continued growth in market demand. Moreover, even though China's steel prices are now rising, they are in an adjustment phase. However, based on the strong demand, the market trend of strong steel prices in Japan remains unchanged. Kiyoshi Imamura, general manager of Tokyo Steel, told reporters that domestic demand remains strong in Japan, and continued healthy demand in the domestic construction industry, automobile manufacturing and machinery manufacturing has formed strong support for steel prices. In South Korea, according to Koreaherald, four workers died of asphyxiating gas at about 4 pm on January 25th after a gas leak at the Pohang Steel Plant in Pohang, North Gyeongsang Province, South Korea. According to the authorities, some workers have inhaled nitrogen from equipment used to supply oxygen to blast furnaces. The authorities are currently investigating the accident and identifying the exact cause of death of the workers. In January, the average export price of China's SS400 3-12mm hot-rolled coils was US$580/tonne (FOB), which was an increase of US$5/tonne. The average export price of SPCC 1.0mm cold rolled coils was US$620/ton, which was the same as the previous period. The DX51D+Z 1.0mm galvanized coil exported at $680/ton (FOB), which is also the same as the previous price.

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