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Japan's steelmakers facing rising prices for raw materials

Amid strong demand, companies are seen passing on higher costs to clients

Pricier scrap steel is raising costs for electric furnace steelmakers.

TOKYO -- Prices of raw materials for steelmaking are on the rise, with the steel scrap used in electric furnaces trading 25% higher than the start of the year in Japan, and the coking coal used in blast furnaces 20% more expensive than the October low.

Global demand for steel is robust, including in Japan, where the redevelopment of Tokyo continues apace, and in Southeast Asia.

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