Kobe Steel hikes wire rod and bar Oct prices by $95/t

Kobe Steel, Japan’s third largest integrated steelmaker, has decided to lift its wire rod and bar prices for the first time since June 2019, raising both the prices by Yen 10,000/tonne ($95/t) for October deliveries to both its domestic and overseas customers, as input costs have been rising, a company official confirmed on September 16.

Production costs such as steelmaking raw materials, auxiliary materials, logistics fee have been rising rapidly and other operational costs have been up too including the maintenance costs, and “we cannot absorb all the added costs ourselves, so we have made the decision to lift our finished steel prices by Yen 10,000/t,” he explained. Over November