Sumitomo Metals to Raise High-Grade Steel Sheet Price by US$ 30 for Export

Sumitomo Metal Industry is advancing the price negotiation of the steel sheets export for Japanese manufacturing industry to raise by around US$ 50 per tonne in the last half of fiscal 2006 at ended of March shipping. The firm supposed the selling price of the hot-rolled steel sheet to increase by US$ 30 per tonne for base size from the fist half of fiscal 2006 at last half of FOB US$ 500 per tonne. The firm will put through the price hike because the firm reduced the selling price by US$ 50-100 with the decreasing in the general steel market price in conjunction with cost rise of such as zinc price. The firm think to increase the production rate of high-grade steel products fro domestic and overseas, improve the commercial profit of the export business. The firm raises the selling price by US$ 30 per tonne for hot-rolled and cold-rolled steel sheet by over US$ 50 for zinc coated steel sheet. The firm’s production cost is rising because the firm’s pickled and zinc coated steel sheet lines are busy with the shipment increase for automobile. The firm analyzed the firm’s price hike is acceptable in users because the supply and demand of high-grade steel products keeps tight while general steel products market price is low in Asia market.