Japan Stainless Steels to Cover Higher Cost Price

Aichi Steel announced on Thursday the firm increases the selling price by around 15% for stainless shapes for June shipment to cover surging nickel cost. Hitachi Metals announced on the day the firm increases the selling price by 20-30% for stainless flexible tube connector of gas application for June shipment. They try to cover higher cost price by the hikes. Aichi Steel increases the price for the first time since June 2005. The firm said it couldn’t cover the surging cost by the own effort when nickel price exceeded US$ 9 per pound from US$ 8.14 in April and recent bottom of US$ 7. The firm increases the selling price of stainless flat bar, square bar, H-beam, angle and channel. The firm could increase the price more depending on the raw materials cost. Hitachi Metals tries to cover higher cost for the major material of brass, of which price increased to more than double in a year, citing the firm couldn’t absorb the surging cost by the own effort in production and sales. The firm tries to keep the stable supply by the first hike since April 2004. The firm is leading maker of stainless flexible tune and connector for interior piping of city gas and liquefied petroleum gas. The brass price surges to more than 4 times of that in 5 years ago due to surging price of copper and zinc. The demand of stainless flexible tune and connector also increases under higher housing start.