Sumitomo Metals (Naoetsu), Japanese major stainless steel maker announced on Thursday to raise the selling price of stainless steel products by about 10% for all users effective for April shipment. Nickel and chrome prices are rising while iron ore and coke prices are expected to surge in fiscal 2010 starting in April. The firm eyes the additional hike along raw material cost fluctuation.
The firm raises the selling price of shapes, plates and sheets in April. The firm’s profitability would worsen due to surging material costs. The firm explained the price hike is necessary to keep the stable supply to all users.| M | T | W | T | F | S | S |
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Japan Steel Scrap Composite Prices (Sangyo Press)
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