Kyoei Steel Raises Selling Price of Small Steel Bar

Kyoei Steel, Osaka based electric furnace steel maker, raises the selling price of small sized steel bar by 1,000 yen to 55,000 yen per tonne at Hirakata works in Osaka Prefecture for products contracted in February and delivered in March 2006.The firm produces near 30,000 tonnes of small sized steel bar per month at Hirakata works. The supply is tight recently when the rolling lead time is extended to around 1.5 months. The firm considered the price hike possible under the tight supply.