Japan Rolled Copper Makers Seek Higher Rolling Margin

Sumitomo Light Metal Industries announced on Wednesday the firm increases the rolling margin of all rolled copper products by 30-50 yen per kilogram for order on July 1. Kanagawa based rolled copper maker, Gonda Metal Industry will brass bar rolling margin by 20 yen for order after July 15. They try to pass higher cost for copper ingot, energy and subsidiary materials. Sumitomo Light Metal, which sold 59,000 tonnes of rolled copper products in fiscal 2007 ended March 2008, expects 2.7 billion yen of higher cost for raw materials and energy for fiscal 2008 from fiscal 2007. Gonda Metal already increased copper bar rolling margin by 20 yen per kg through negotiation with buyers since March. The firm decided the higher brass bar rolling margin to pass higher cost for the first time after 10 yen hike in 2006. Hitachi Cable announced around 5% higher rolling margin while Furukawa Electric increased the margin by 50 yen per kg and Kobelco & Materials Copper Tube announced 20-30 yen higher rolling margin.