Suzuki Metal to Hike Spring Steel Wire by Over 14,000 yen/t

Suzuki Metal Industry announced on Tuesday the firm increases the selling price of spring steel wire by more than 14,000 yen per tonne for all users for July shipment. The firm tries to pass higher cost price when special steel wire rod maker of Nippon Steel increases the rod price by 10,000 yen per tonne for July shipment. The firm tries to improve the profitability through better selling price including higher extra charge and surcharge price system. The firm increases the selling price for the first time since April 2005. The firm tries also to cover higher cost for subsidiary materials and freight through the hike. The firm increases the price by more than 14,000 yen per tonne for hard drawn steel wire, by more than 15,000 yen for piano wire and by more than 16,000 yen for oil tempered steel wire. The firm seeks nickel surcharge system at negotiation with users when rod makers try to start nickel surcharge after start of surcharge for vanadium and molybdenum in 2005. Suzuki Metal Industry also increases the extra charge for smaller sized products to improve the profitability.