Sumitomo Pipe & Tube to Hike All Products by 20-25% in April

Sumitomo Pipe & Tube, Japanese major steel tube maker, will raise selling price of all electric-resistance welded tubes by 20-25% effective for April shipment. The price will be raised by 23,000 yen per tonne for electric resistance welded tube and by 25,000 yen for cold rolled products to all users including automobile industry, construction machinery makers or wholesalers.Japanese integrated steel makers will increase steel sheet price in April due to rising material price and freight. Overseas steel makers already raised export price to Japanese users. Sumitomo Pipe & Tube decided the hike considering rising material price to be expected.The firm plans additional advance in price if steel sheet price would increase. The supply is tight for hot rolled coil and pickled coil. Japanese integrated steel makers are expected to reduce the output after April. Sumitomo Pipe & Tube forecasts to reduce the output in April-June due to tough purchasing of steel sheet.