Japanese special steel producer Sanyo Special Steel said Friday it has raised its stainless bar prices by 10% from July contracts.
Himeji-based Sanyo does not disclose its list prices, but current market prices for SUS304 bars (25-100 mm diameter) in Tokyo are Yen 530,000/mt ($4,711/mt) and for SUS403 bars (13 chrome) are Yen 380,000/mt, sources said.
The company last lifted its stainless bar prices by 10% from February contracts. A Tokyo-based stainless distributor said that increase had not kept pace with rising input costs.
“Also demand for stainless bars has been firm and the company remains at full production, so these conditions were also considered when it decided to lift prices,” he said.
Demand for stainless bars was strong for infrastructure works such as water treatment facilities, and from the semiconductor and auto sectors, he said.
Daido Steel, another major stainless producer in Japan, in early July raised its stainless bars and section prices by 10% for July contracts to reflect higher alloy costs.