Dear users,
To improve access to Japanese domestic steel pricing information and facilitate procurement planning, cross-market price comparison and cost analysis, SMM plans to launch 10 Tokyo Steel Japan domestic rebar and hot-rolled coil (HRC) price points on September 23, 2026 (2026/09/23).
The new series will include Tokyo Steel’s published domestic mill list prices in Japanese yen (JPY), together with corresponding US dollar (USD) conversion series.
The price points are as follows:
JPY-denominated price points
- SMM-GS-RB-014: Rebar SD295A D10 FOT Japan, JPY/tonne
- SMM-GS-RB-015: Rebar SD295A D13–D25 FOT Japan, JPY/tonne
- SMM-GS-RB-016: Rebar SD295A D29/D32 FOT Japan, JPY/tonne
- SMM-GS-HR-027: HRC SPHC 1.7–22.0 × 900–1,630 × C FOT Japan, JPY/tonne
- SMM-GS-HR-028: HRC SS400 1.7–22.0 × 900–1,630 × C FOT Japan, JPY/tonne
The underlying JPY series cover the three rebar size groups and the SPHC and SS400 HRC specifications recorded in the price-point application.
USD-denominated price points
- SMM-GS-RB-017: Rebar SD295A D10 FOT Japan, USD/tonne
- SMM-GS-RB-018: Rebar SD295A D13–D25 FOT Japan, USD/tonne
- SMM-GS-RB-019: Rebar SD295A D29/D32 FOT Japan, USD/tonne
- SMM-GS-HR-029: HRC SPHC 1.7–22.0 × 900–1,630 × C FOT Japan, USD/tonne
- SMM-GS-HR-030: HRC SS400 1.7–22.0 × 900–1,630 × C FOT Japan, USD/tonne
The USD series correspond directly to the same specifications and delivery basis as their respective JPY-denominated series.
These series will reflect Tokyo Steel’s published domestic mill list prices and provide a consistent reference for monitoring the company's monthly pricing decisions, comparing price movements across periods and specifications, and facilitating comparison with steel prices in other international markets.
Price specifications
- Market: Japan domestic.
- Reference manufacturer and brand: Tokyo Steel.
- Price type: Published mill list price.
- Delivery basis: Free on Truck (FOT), Japan.
- Currency and unit:
- JPY-denominated series: JPY/tonne, displayed without decimal places.
- USD-denominated series: USD/tonne, displayed without decimal places.
- Product specifications:
- Rebar: Separate series for D10, D13–D25 and D29/D32, under JIS G 3112.
- HRC SPHC: Thickness 1.7–22.0 mm, width 900–1,630 mm, supplied in coils, under JIS G 3131.
- HRC SS400: Thickness 1.7–22.0 mm, width 900–1,630 mm, supplied in coils, under JIS G 3101.
- Reference payment terms: Bank transfer under standard Japanese domestic settlement terms or other payment arrangements stipulated in the sales contract.
- Reference transaction quantity: 5–25 metric tonnes. Minimum order quantity is subject to mill confirmation.
- Reference delivery period: Within 30 days, with actual delivery timing subject to the sales contract.
- Publication frequency: Monthly. Prices will be updated following Tokyo Steel's announcement of prices for the following sales month, generally during the second half of the month. There is no fixed calendar publication date. The application specifies collection and publication immediately following Tokyo Steel's monthly announcement.
- Historical coverage: From January 2020.
- Launch date: September 17, 2026.
SMM will collect and verify Tokyo Steel's officially published monthly prices and applicable grade premiums. The SS400 HRC price will be calculated based on the corresponding SPHC base price plus Tokyo Steel's published SS400 premium. Other processing, dimensional, specification or optional low-carbon premiums will not be incorporated unless expressly included in the relevant price-series definition.
The corresponding USD-denominated series will be converted from their respective JPY-denominated series using the applicable JPY/USD exchange rate in accordance with SMM's price-conversion methodology.
Each historical observation will be assigned to its applicable sales month. Where Tokyo Steel maintains its prices unchanged from the previous month, the unchanged price will continue to be recorded for that month.
The introduction of both JPY- and USD-denominated series will allow market participants to monitor Tokyo Steel's domestic pricing directly while providing a more convenient basis for comparison with other international steel markets commonly quoted in US dollars.
Thank you for your continued attention to and support for SMM's steel pricing services.
SMM