Nisshin Steel to Raise Coated Steel by 10,000 yen/t

Nisshin Steel will increase the selling price of coated steel by 10,000 yen per tonne for construction applications for October shipment. The firm decided to increase the price to cover higher cost of raw materials, which the firm said, increased by around 30,000 yen per tonne, though the firm increased the selling price by 10,000 yen in July. Construction sheet steel makers increased the selling price by 10,000 yen per tonne in July to cover higher cost for zinc and aluminium when those prices increased to more than double from autumn 2005. They indicated they could increase the prices again in and after October when the first price hike couldn’t cover all of higher cost even with own effort. Other also indicated additional hike in October. However, a maker said the maker postpones the hike when the first hike was finally accepted in distributors’ market in September and the market needs more time to fix the higher price. The maker hopes the firm could increase the selling price again in the year.