Momentum builds in Japan for long-product price rises

Tokyo Steel Manufacturing's announcement on Monday that it was raising list prices of all its products by Yen 3,000/tonne ($19/t) for domestic sales in November might prove to be the catalyst for higher prices that other Japanese steelmakers and distributors had been waiting for. "With Tokyo Steel raising its November selling prices, the retail market has also risen significantly," one market watcher observed.

On Tuesday just a day after the mini-mill's announcement, Nippon Steel's wholly-owned subsidiary Nippon Steel Metal Products Co, a leading maker of formed cold-rolled products for construction and civil engineering applications such as guard rails, announced that it was raising prices for three building material items – lightweight steel