It’s reported that Nippon Steel & Sumitomo Metal Corp. (NSSMC) said that it planned to raise the steel prices by 20% in the first half of current fiscal year (during April through September) as the depreciated Japanese Yen has boosted input costs.
It’s learned that the Japanese Yen has weakened by 20% since last November.
NSSMC expected that the major buyers, including automobile industry, shipbuilders and electronics industry can accept at least price rise of ¥15,000/ton.
Meanwhile, NSSMC indicated that the company’s profits were squeezed in the recent years as they were unable to transfer the input costs to clients.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64799&division=A2
