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Column:Company News Time:2021-05-19

Affected by the price of raw materials such as steel, the manufacturing cost of RUNTX forklifts has increased significantly. We will increase the price of forklifts within a reasonable range. The following is news about the price increase of raw materials such as steel.


Reuters, Tokyo, May 17-Tokyo Steel said on Monday that steel prices in June will increase across the board, ranging from 9.5% to 17.6%, reflecting the surge in overseas prices and the anticipated increase in local demand.

Tokyo Steel's steel is mainly used in the construction industry, and the prices of some products have also been increased in the previous two months.

Asian competitors, including South Korea’s Pohang Steel, Hyundai Steel, and China’s Baosteel, are closely watching Tokyo Steel’s pricing.

Tokyo Steel said the price of pickled steel coils in June will increase by 17.6% to 120,000 yen (US$1,097) per ton, and the price of U-shaped steel sheet piles will increase by 9.5% to 115,000 yen per ton.

H-beam prices will increase by 10.8% to 103,000 yen per ton.

In China, entering May, China's domestic steel market continues to rise, and steel prices have broken through the previous highs in 2008 and hit a record high.

   According to data from the National Bureau of Statistics of China, in April, China's domestic industrial production recovered steadily. The prices of international bulk commodities such as iron ore and non-ferrous metals rose, and prices in the production sector continued to rise. From a month-on-month perspective, PPI rose by 0.9%, a decrease of 0.7 percentage points from the previous month. Affected by increased demand and rising costs of raw materials such as iron ore, the price of ferrous metal smelting and rolling processing industries rose by 5.6%, an increase of 0.9%.

   The iron and steel industry is one of the important raw material industries in China. Real estate, automobiles, home appliances, machinery, shipbuilding, etc. are all important downstream industries in the iron and steel industry. The soaring steel prices have severely impacted downstream companies. Under the layer-by-layer transmission, the terminal market of some industries has begun to come under pressure.