September 07, 2008

Sumitomo Metals hikes domestic seamless pipe contract price by 10%

Sumitomo Metal Industries will conclude the seamless steel pipe price hike negotiation with domestic major contract users including construction and industrial machinery makers by end of the month to increase the price by 10% after the talks since July.

Sumitomo Metal already increased the domestic price 6 times since 2001. The users apparently accept the 7th hike under the tight supply with boomed demand at home and abroad.