Sumitomo Metals’ Subsidiary Increases Stainless Tubular by 50,000 yen/T

Sumikin & Nippon Steel Stainless Steel Pipe increases selling price of stainless tubular products by 50,000 yen per tonne from the order in March. The firm aims to pass the higher material cost to products price and increase the low price to improve the profitability.

The firm increased the price by total 100,000 yen per tonne through the hikes for 3 months in a row from July order through September 2009. However, the price declined by about 50,000 yen since the beginning of 2010 due to slow demand. The firm increases the price by 50,000 yen from the order in March to retain the profitability in order to keep the stable supply.

The firm tries to pass higher cost of nickel, which reaches US$ 10 per pound, while the price was US$ 8 per pound when the firm increased the price in 2009.