Japan’s Daido up Jan special steel list prices by $97/t

Japan’s Daido Steel, a special steel producer under Nippon Steel, has decided to add Yen 10,000/tonne ($97/t) to its special steel products including structure steel, spring steel, bearing steel and tool steel for January sales or February shipments to pass on part of the higher input costs and to maintain stable production, a company official confirmed on January 7.

This has been the first time in three years for the company to raise its special steel prices after an increase of Yen 10,000/t in January 2018 sales, Mysteel Global noted, and the latest price hike applies to all Daido’s customers both in and out of Japan, though those that have adopted scrap