Kobe Steel to Continue Hike for Aluminium Rolled Products

Hiroyuki Nakayama, senior managing director of Kobe Steel, explained at a press conference on Monday that Aluminum & Copper Company of the firm continues price hike approach for aluminium rolled products while the Company has almost succeeded in cost covering for copper rolled products. The Aluminum & Copper Company has sought price hike for aluminium and copper fabricated products to cover material cost expansion.Mr. Nakayama viewed the Company has offered price hike for aluminium rolled products including automotive parts, plates, foils and printing matrixes and covered 50% of cost upsurge so far. The Company seeks completion of the hike. The Company also tries to raise rolling charge for aluminium can materials to reflect upsurge of sub materials such as magnesium metal. However, the Company has postponed the hike since can makers have been suffered from worse profitability as well.As to copper rolled products, the Company has offered price hike to cover metal losses generated in melting and casting processes. Mr. Nakayama explained Kobe Steel losses approximately 2,000 tonnes of copper metal per year in the productive processes, which equals to loss of more than 2 billion yen per year as of current copper price at 1.05 million yen per tonne. Then the Company was approved by 90% of the users to put the cost up on the selling prices of copper rolled products.