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| Japan Major Steels Offer 15,000 yen/T of Hike for Automotive Steel
Japanese major steel makers including Nippon Steel and JFE Steel started negotiation with major automakers including Toyota Motor for sheet steel price for fiscal 2005 starting April 2005. The steels apparently offered neat 15,000 yen per tonne of price hike for April shipment. The steels got more than 10,000 yen of hike for automotive sheet steel through 3 price hikes in April 2003, April 2004 and September 2004. However, the price is still lower than international price and domestic prices for other users. The steels seek the widest hike to keep stable supply for automakers when internationals steel price is expected to keep increasing under tight supply and higher cost for raw materials in fiscal 2005. International flat steel supply has got tighter in fiscal 2004 when major with more demand from manufacturers including automakers and shipbuilders in the world. Flat steel price has increased, especially in offshore market.  |
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