Source: Yieh, November 20, 2007
In order to response the cost lift on the raw materials, Japanese steel mills are planning to raise the price by US$50/ton on their cold rolled products to Asia Market.
The new fob price will be around US$750/ton. The negotiation between Japan and their Asia’s customers will start from the next week.
Since the beginning of November, Japanese steelmakers highly concern about raw material prices in next fiscal year 2008, as they can see the soaring prices on raw materials.
It is said that Japanese steelmaker was thinking to increase the prices by US$100/ton previously, but their final target price rise sets at US$50/ton. Therefore, the average price of cold rolled will be at US$750/ton.