Shin Kansai Steel Raises Steel Products for Special Steel Cold Finished Bar in April

Shin Kansai Steel Corporation, Japanese major electric furnace maker, raised the selling price of flat bar, square steel and structural steel for special steel cold finished bar by 10,000 yen per tonne from a contract in April. The firm passed increased ferrous scrap price on the selling price.The firm is selling these products for automobile components, industrial machine and precision instrument. The firm increased these selling prices by 500 yen per tonne in November 2006 due to higher energy cost and resources price. The production of the steel products for special steel cold finished bar uses high grade ferrous scrap which the price most increases because the products are requested high quality for machining performance, dimensional accuracy or surface. The firm increased the selling price of flat bar for distributors by 3,000 yen per tonne in February order, by 3,000 yen in April order.