Kobe Steel, Japan’s third-largest integrated steelmaker, has decided to raise domestic prices of its carbon steel flat products for sale to the spot market, re-rolling mills and construction projects by 15,000 yen/t ($143/t) for March deliveries, market sources said.
The increase is aimed at absorbing further increases in raw material costs, a company representative confirmed on Feb. 3, 2021.
Most recently, Kobe Steel had raised its prices for hot-rolled, cold-rolled, pickled and coated coils and sheets for these markets by at least 5,000 yen/t from October 2020, so with the latest increase, the total price increase for non-contract sales in the second half of the Japanese fiscal year (October 2020-March 2021) has reached over 20,000 yen/t.
Source: Market sources
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