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Steel prices turn red hot for Japan builders on Russia shock

Materials cost surge puts factory construction plans on hold

Kyoei Steel and others in the industry are paying more for scrap steel to feed their furnaces. (Photo by Atsushi Oka)

TOKYO -- Prices for architectural steel in Japan have risen to the highest levels in more than a decade as Russia's invasion of Ukraine disrupts supply chains for a wide range of building materials, including wood and cement.

Tokyo Steel Manufacturing on Tuesday raised the price of H-beams used in building construction to the most in more than 13 years, 121,000 yen ($1,000) per ton. Kyoei Steel announced a 7% price hike for steel rebar.

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