Mitsubishi Aluminum to Raise Flat and Extrusion by 10%

Mitsubishi Aluminum will increase the rolling margin by averaged 10% for aluminium flat and extrusion products in January. The firm tries to cover higher cost for crude oil, aluminium ingot and additive metals to improve the profitability.The firm said the production cost increased by 2 billion yen in past 2 years despite of the various cost down effort. The firm decided to pass the higher cost on the selling price when the firm cannot cover all of the higher cost.The firm announced in March 70 yen per kilogram of hike for plain aluminium foil, aluminium foil container and household use aluminium foil, which the firm sell at fixed prices without reflection of change of raw materials cost, in March. The firm announced in May additional hike of more than 80 yen for the products for July shipment. The firm now tries to fix the higher price.The firm tries to hike the price of flat and extrusion products to cover higher cost. The firm tries to realize the higher price for can materials and other applications in early 2007.