Toyo Aluminium to Hike Aluminium Paste Price by 45-100 yen/kg

Toyo Aluminium announced on Wednesday the firm would increase the selling price of aluminium paste effective on April 1 shipment. The firm increases the price by 100 yen per kilogram for special grade and by 45 yen for commodity grade. The firm tries to cover higher cost price including aluminium ingot, aluminium powder and other raw materials. The firm has the largest domestic market share for special grade aluminum paste for automotive metallic painting, which needs higher brightness. The firm decided to raise the selling price both for special grade and commodity grade, which is used for construction materials, though the firm increased the price only for special grade for shipment in May 2003. Aluminium ingot price increased by around 40% since July at London Metal Exchange. The firm is suffered from higher production cost including petroleum solvent and other materials. The firm decided to pass the higher cost price when the firm cannot cover all of the higher cost by cost cutting.