Nakayama Steel Works to Hike Wire Rod for Fasteners

Nakayama Steel Works will increase the selling price of carbon steel wire rod including bar in coil and wire products for rivet and screw by more than 5,000 yen per tonne for March shipment. The firm tries to increase the lower selling price than other steel items under higher cost for ferrous scrap and tight steel source supply. The firm follows Godo Steel, which increased the price for January order. Nakayama Steel Works increases the selling price depending on the items for February order or March shipment. The subject items represent around half of the steel bar and wire rod output for the firm. The firm plans to increase the selling price by near 10,000 yen per tonne for some items after the effort to gradual hike for some items since October. The firm tries to increase the selling price, which is lower than other steel products, to improve the profitability under higher cost for scrap, other materials and freight. The firm decided the hike when the steel supply is expected to get tighter.