JFE Welded Pipe to Hike All Items by 20,000 yen/t

JFE Welded Pipe Manufacturing decided 20,000 yen per tonne hike for all welded steel pipe items including general structural pipe, gas pipe and square pipe for distributors for April shipment. The firm also negotiates with contract users for higher price associated with the parent, JFE Steel. Japanese integrated steel makers reduce the hot coil supply for welded steel pipe makers under tight steel supply worldwide while the major makers prepare wide hike for sheet steel to cover higher cost for iron ore, raw materials and freight. JFE Welded Pipe decided the hike for April shipment when hot coil suppliers in China, Taiwan and South Korea show the intention for wide price hike in and after April.