Posted on 19 May 2010
JFE Steel Corp, a unit of JFE Holdings Inc, plans to raise its steel export prices for the July-September period, to take advantage of firm demand in
The company plans to seek a hike in the prices of hot and cold rolled steel sheets as well as surface-treated steel sheets by 10 percent to 20 percent, or $100 to $150 per ton, sequentially, the Nikkei said.
JFE Steel plans to start contacting its customers, including foreign units of Japanese consumer electronics manufacturers and steel-processing companies around the world, as early as next Monday on the price raise, the daily added.
The firm's export price for hot rolled sheet -- used in construction materials, consumer electronics and a range of other products -- now stands at $750 per ton, the daily said.
Cold rolled sheet -- made by making hot rolled sheet thinner -- is being exported for $850 per ton. Surface-treated steel sheet, which is covered with anti-corrosive coating, carries an export price of $1,000 per ton, the daily added.
The company is also in talks with automakers and other major domestic customers, seeking to raise domestic prices by between 15,000 yen (about $162) and 20,000 yen per ton and to shorten sales contract terms to three months from the traditional one year, the Nikkei said. ($1=92.55 Yen)
