Japan Major Steels to Hike Sheet Steel Additionally

Japanese integrated steel makers prepare additional sheet steel hike for distributors for July shipment. The price hike could exceed 10,000 yen per tonne for hot, pickling, cold and coated sheet price to cover higher raw materials cost. They increased the price by 20,000 yen per tonne for April. However, they decided the additional hike when the more than expected cost up including 65% up for iron ore and 200% up for coking coal is beyond their own effort. They study for the hike reviewing ongoing negotiations for raw materials and contract selling price with automakers and appliances makers.