Godo Steel Hikes Wire Rod and Bar in Coil by Over 5,000 yen/t

Godo Steel announced on Friday the firm increases the selling price by more than 5,000 yen per tonne for carbon steel wore rod, bar in coil and deformed bar in coil for June order. The attempt is third hike in the year after January and April orders. The firm decided the hike when the selling price is lower than other steel products even after the hikes. The firm also keeps the 20-30% lower order acceptance since January-March compared with October-December 2006. The firm tries to improve the profitability enough to reproducible level to keep the stable supply under tight steel sources. The firm expects the import from China could reduce the presence in Japanese market when Chinese government terminated export tax return and adds export tariff along with export license though the Chinese products impacted on Japanese wire rod market prices.