Tokyo Steel Manufacturing announced on March 16 a price increase across its entire product lineup for April contracts. This broad adjustment, the first in nearly four years, adds 5,000 to 7,000 yen per ton to offset surging scrap metal and energy costs. Construction materials such as rebar and thick plates will rise by 5,000 yen, and industrial products such as thin plate products face a 7,000-yen increase.

The decision was due to Middle East tensions and rising global oil prices, which threaten to drive up production expenses further. With international steel markets trending upward in the US and Europe, Tokyo Steel aims to mitigate pressure on its earnings. The company said this move is an urgent response to volatile geopolitical and economic conditions.