Tokyo Steel to raise all product prices by up to 3.6pct in April


20/03/2012 07:56 AST  Steelguru

Reuters reported that Japan's biggest construction steelmaker Tokyo Steel Manufacturing Co will raise prices in April 2012 by 2.5% to 3.6% for all its products except thick plates, to reflect higher export prices in Asia and a weaker yen.

Mr Kiyoshi Imamura sales director of Tokyo Steel said that Japanese manufacturers' exports are improving fast after the yen weakened last week to a 1 month low against the dollar. He added that "This will become the first of a series of rate hikes if export conditions improve further in the next month."

Mr Imamura said that "Chinese, Korean and Japanese steel makers' recent price hikes on exports have helped further improve the market."

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