|  | 25/10/2004 |
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Nippon Steel Raises the Selling Price of Special Wire Rods and Wire Rods
Nippon Steel will raise the selling prices of special wire rods and wire rods for next January shipment. The firm will raise special wire rods price by 10,000 yen per tonne, the wire rods for steel code price by 20,000 yen per tonne, and bars in coil of wire rods and ordinary steel including CH rimmed steel by 5,000 yen or more per tonne. Since various prices of the steel materials rise in the background of making the worldwide steel supply and demand tight, the firm improves the profit of the wire rod to secure the stable supply. The price of special wire rods is the second this year, and that of wire rods is the fourth this year. The firm is planning the price hike for next fiscal year since the rise of the raw material price is expected in the future. A special wire rod is a spring of the high intensity used for a suspension and car engine, and the nationwide demand is 100,000 tonnes a month. The number of automotive manufacture increased by 3.0% from the same month of last year to 4.865 million units. The demand is good for the car-related, and the wire rod supply is extremely tight.
The firm raised the special wire rod price by 10,000 yen per tonne on April 2004, but since the price hikes of steel products went on, the firm could not help raising the price again.
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 | Nippon Steel Raises the Selling Price of Special Wire Rods and Wire Rods
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