Aichi Steel Increases Shaped Stainless Steel by 10% from March

Aichi Steel, Japanese major special steel maker, announced on Monday the firm raises the selling price of nickel series shaped stainless steel by 10% for shipment on and after March 1 for basic grade products to reflect high nickel price. The firm has announced price hike 5 times in fiscal 2006 ending March 2007. Shaped stainless steel demand is steady for chemical plant, Information Technology related equipment, shipbuilding and sewage facility. The market inventory keeps moderate level in Japan. The firm raised the selling price when nickel price remains high and yen exchange rate became cheaper against US dollar. As to some grade products which contain nickel more than other grades, the firm will advance the price hike with the amount of nickel content. Price hike will be adopted to stainless steel flat bar, H-beam, square shaped steel, angle and channel.