Tokyo Steel Raises November Prices ¥3,000/t
Tokyo Steel Manufacturing raised domestic November contract prices by ¥3,000 per tonne across its steel product range, lifting its base hot-rolled coil price to ¥106,000/t and D13–25 rebar to ¥96,000/t as higher energy and material costs continue to pressure Japan's electric-arc-furnace steelmakers.
- November increase: Tokyo Steel raised listed domestic steel prices by ¥3,000/t across all products.
- HRC: 1.7–22.0 mm hot-rolled coil increased from ¥103,000/t to ¥106,000/t.
- Rebar: D13–25 rebar rose from ¥93,000/t to ¥96,000/t.
- H-beams: Major listed sizes rose from ¥116,000/t to ¥119,000/t, with some larger sizes at ¥121,000/t.
- Flat products: November marks a second consecutive monthly increase for major sheet and plate products.
- Long products: H-beams and rebar rose for the first time in four contract months.
Tokyo Steel's November move is notable because it broadens the recent pricing push beyond flat steel. HRC had already increased ¥3,000/t for October contracts, while rebar and major structural products had been held unchanged for three consecutive months. November therefore extends the flat-steel increase while bringing long products back into the upward cycle. The move signals stronger mill price intentions across Tokyo Steel's portfolio, but it remains a producer list-price adjustment rather than evidence that Japanese spot transactions have risen uniformly by ¥3,000/t.
Tokyo Steel Manufacturing has raised prices across its domestic steel product range by ¥3,000 per tonne for November 2026 contracts.
The Japanese electric-arc-furnace producer published the new pricing on October 19.
Japanese industry reporting said the increase applies across the company's listed construction and flat-steel products.
Tokyo Steel Raises HRC to ¥106,000/t
Tokyo Steel's base price for hot-rolled coil with a thickness of 1.7–22.0 mm increased to ¥106,000/t for November contracts.
That compares with ¥103,000/t for October, representing a ¥3,000/t increase.
Market reporting has converted the new level to approximately $670/t, although Tokyo Steel's published domestic price is denominated in Japanese yen.
| Product | Specification | October | November | Move |
|---|---|---|---|---|
| Hot-rolled coil | 1.7–22.0 mm | ¥103,000/t | ¥106,000/t | +¥3,000/t |
| Rebar | D13–25 | ¥93,000/t | ¥96,000/t | +¥3,000/t |
| H-beam | Selected standard sizes | ¥116,000/t | ¥119,000/t | +¥3,000/t |
Flat Steel Prices Rise for a Second Consecutive Month
November extends Tokyo Steel's recent flat-steel pricing increases.
For October contracts, the producer had already raised HRC and several other flat-steel products by approximately ¥3,000/t, while plate increased by ¥2,000/t.
For November, Tokyo Steel increased all listed flat products by ¥3,000/t.
| Flat Product | Specification | November Price |
|---|---|---|
| HRC | 1.7–22.0 mm | ¥106,000/t |
| Pickled coil | 1.7–6.0 mm | ¥112,000/t |
| Hot-rolled sheet | 2.3–6.0 mm | ¥111,000/t |
| Checkered sheet | 3.2–6.0 mm | ¥114,000/t |
| Plate | 9.0–40.0 mm | ¥113,000/t |
Rebar and Structural Prices Rise After Three-Month Hold
The November announcement marks a broader shift for Tokyo Steel's long products.
H-beams and rebar had been held at unchanged levels for the August, September and October contract periods following increases for July.
For November, D13–25 rebar increased to ¥96,000/t, while major H-beam sizes increased to approximately ¥119,000/t.
Some larger medium-width H-beams were listed at ¥121,000/t.
Japanese industry reporting described the increase in H-beams and rebar as the first in four contract months.
SteelPrices previously covered Tokyo Steel's July price adjustments: Tokyo Steel Raises HRC, Rebar and Structural Prices for July .
Higher Energy Costs Drive Tokyo Steel's November Move
Tokyo Steel cited rising production costs as a key reason for the November increases.
The company said prolonged geopolitical tensions in the Middle East have kept crude oil and LNG prices elevated, increasing costs not only for fuel and electricity but also for other production materials.
Tokyo Steel expects cost-push inflation to remain an issue for steel producers.
That cost pressure is particularly relevant for an electric-arc-furnace producer because electricity represents an important component of steelmaking costs.
Flat-Steel Demand Remains Less Convincing
The pricing increase comes despite comparatively restrained demand for flat steel.
Japanese market reporting described buyer interest as lacking strong momentum, even as producers attempt to pass through higher costs.
Tokyo Steel said global inflation and higher coking-coal costs are prompting steelmakers in Japan and overseas to reassess pricing.
Higher ocean freight costs have also increased the landed cost of some imported material.
Data Centres and Semiconductor Plants Support Structural Outlook
Tokyo Steel sees a stronger medium-term demand case for construction-oriented products.
Large data-centre and semiconductor-factory projects scheduled for late 2026 and 2027 are expected to support structural-steel consumption as construction progresses.
The company described construction-related demand as firm as Japan enters a more active demand period, although the improvement remains gradual.
Japan Joins a Broader Asian HRC Repricing Trend
Tokyo Steel's November increase comes as other Asian mills have also attempted to raise HRC offers.
In Vietnam, Formosa Ha Tinh Steel and Hoa Phat recently moved domestic HRC offers higher amid higher costs and changing import competition.
SteelPrices' verified Formosa analysis is available here: Formosa Raises Vietnam HRC Offers for Winter Delivery .
The broader global HRC market nevertheless remains highly regional.
U.S. prices strengthened during September amid restricted spot availability and longer lead times, while European producers sought higher levels and China's expected seasonal recovery remained uncertain.
See: Global HRC Market Shows Mixed Trends in September .
What Does Tokyo Steel's November Increase Signal?
Tokyo Steel's November pricing decision broadens an upward move that had initially been concentrated in flat products.
HRC has now increased for two consecutive contract months, while rebar and structural products are moving higher after three months of unchanged pricing.
The company is attempting to pass through higher energy and material costs while positioning ahead of expected construction demand from major industrial projects.
The key unanswered question is how fully those increases will be accepted by buyers while current flat-steel demand remains restrained.
Primary pricing verification: Tokyo Steel November contract price list, as reported by Japanese steel-industry sources.
Additional market reporting: BigMint; GMK Center.
Courtesy: GMK Center
