It is reported that Tokyo Steel Manufacturing plans to lift its domestic steel prices in March 2013.

The company hiked the prices for most long products by ¥3,000/ton for March contracts.

Meanwhile, the company will also increase the prices for flat products and square pipes by ¥2,000/ton.

Also, the company also explained that the recovery in demand for construction sector from the domestic market will help to boost the steel consumption gradually this year.

Currently, Tokyo Steel’s new domestic list price for 1.7-22mm SPHC hot rolled coil is ¥62,000/to, up by ¥2,000/ton while that for SS400 senior-sized H-beams is ¥74,000/ton, which is ¥3,000/ton higher.