Posted on 23 May 2008
Toyota Motor Corp. is expected to agree to a steel sheet
price hike exceeding 20,000 yen per ton in negotiations with Nippon Steel
Corp., informed sources said Thursday.
The two industry giants are expected to reach a formal
agreement as early as next week, the sources said.
As a result, the steel sheet price is due to surpass 100,000
yen per ton, hitting an all-time high for the first time in 26 years.
The price hike is likely to influence price negotiations
between other automakers and steelmakers, industry experts said.
In line with soaring prices for iron ore and other raw
materials, Nippon Steel had asked
