Maruichi Steel Tube considers price hike for June shipment. The firm tries to increase the selling price by 5,000 yen per tonne for steel pipe and square pipe and by 10% for pipe for electric wire. The firm also increases the price by 5,000 yen for contract users. The firm keeps studying for higher processing charges for mechanical tube. The firm tries to cover higher cost of hot rolled coil after POSCO of South Korea increased the export price to Japan for April-June and China Steel of Taiwan hiked the price to Japan for May-July. Japanese integrated steel makers are expected to increase the hot coil price in and after July. The firm tries to cover the higher cost along with higher subsidiary materials, freight and subcontract processing cost. The firm will improve the profitability through the hike.
Japan Steel Scrap Composite Prices (Sangyo Press)
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