Kobe Steel Raises Stainless Welding Materials by 20-25%

Kobe Steel’s welding business unit announced on Friday the unit increase the selling price of all welding material items for stainless steel by 20-25% on March 1 shipment. The unit also increases the selling price for items for nickel containing steels including high tensile steel, corrosion resistance steel, steel for low temperature, heat resistance steel, casting iron and nickel alloy depending on the nickel content. The unit also tries to increase the export price.Price of welding materials for stainless including stainless wire rod and sheet and other raw materials surged since spring of 2006 due to extra higher international market price of nickel and chrome. The unit already increased the selling price by 10-15% for October shipment last year to cover the higher cost price. However, the higher cost for nickel continues to suffer the business. The unit said it cannot absorb the extra higher cost for itself only by the own cost don effort and decided the additional hike to secure raw materials stably for stable supply.