The Japanese steelmaker JFE Steel planned to raise spot prices for hot rolled coils (HRC), cold rolled coils (CRC), pickled and oiled coils by ￥3,000~￥5,000/ton.
At present, the spot prices of SS400 HRC offered by the Japanese steel mills are at ￥62,000/ton.
Industry sources said that the Japanese steelmakers have hiked steel sheet prices by ￥10,000/ton since this April, driven by strong demand and tight supply.