Nakayama Steel to Hike Plate by 5,000 yen/t

Nakayama Steel Works announced on Tuesday the firm increases the plate steel selling price by 5,000 yen per tonne for April order or May-June shipment. The firm keeps the supply volume under the limited availability of slab and mill capacity to keep low level supply. The firm tries to pass the higher cost for slab and subsidiary materials to improve the profitability. The firm said the domestic market price is lower than international level though the supply is getting tighter when building demand increases seasonally along with strong demand for shipbuilding, construction and industrial machinery. The firm increased the selling price by 3,000 yen per tonne for April 2005 order. The firm seeks better profit through the first hike in 2 years.