Nakayama Steel Works Hikes Checkered Plate by 3,000 yen/t

Nakayama Steel Works announced on Thursday the firm increases the selling price of checkered plate by 3,000 yen per tonne or 3-4% for August order or September-October shipment. The hike is the first attempt for the firm since 3,000 yen hike in October 2006. The firm plans to reduce the order receipt in line with the mill capacity. The firm tries to increase the price when the demand recovers for buildings while the demand keeps firm for shipbuilding and construction machinery. The firm also tires to pass the higher cost for raw materials, energy and freight to improve the profitability. The firm already increased the selling price of plate steel by 5,000 yen per tonne for April order. The firm eyes hike for medium thick plate.