Toyota Accepts 5,000 yen/t Price Hike for Welded Steel Pipe

Japanese steel pipe makers concluded the price negotiation with Toyota Motor. Toyota accepted the 5,000 yen per tonne of hike for carbon steel welded mechanical steel pipe for the central purchase portion effective in October shipment as the pipe makers sought. The pipe makers got the price hike for the first time since 2005. Toyota revises the purchase price of stainless steel pipe depending on the market price of nickel and metals. The firm agreed to increase the purchase price of stainless welded pipe by 5,000 yen per tonne for chrome series products and by 165,000 yen for nickel series in October. The firm accepted the 5,000 yen hike for chrome series and 155,000 yen for nickel series in April. Steel pipe makers sought the hike to cover higher cost for raw materials and subsidiary materials along with the tight supply of material steel sheet coil. Toyota accepted the hike after the firm agreed to increase the automotive sheet price from integrated steels and the special steel bar price from integrated and special steel makers.