Reuters reported that Japan's No 2 steelmaker JFE Steel will seek to raise product prices by additional JPY 10,000 (USD 75) a tonne from this month to pass on soaring costs of raw materials. The latest hike mainly reflects rising coking coal prices and would apply to all products, including exports. In some cases the outcomes of such rises depends on negotiations with customers, such as automakers and electronics manufacturers. The company did not disclose actual product prices after the rises. The rise is on top of one announced in May, when the company said it would lift prices by JPY 30,000 (USD 225) a tonne from those of the January-March quarter. JF Steel had said in May that the average steel product price a, had climbed to JPY 103,700 (USD 78035) a tonne in the financial year ended 31 March 2022 from JPY 74,800 (USD 560) a year earlier.
Reuters reported that Japan's No 2 steelmaker JFE Steel will seek to raise product prices by additional JPY 10,000 (USD 75) a tonne from this month to pass on soaring costs of raw materials. The latest hike mainly reflects rising coking coal prices and would apply to all products, including exports. In some cases the outcomes of such rises depends on negotiations with customers, such as automakers and electronics manufacturers. The company did not disclose actual product prices after the rises. The rise is on top of one announced in May, when the company said it would lift prices by JPY 30,000 (USD 225) a tonne from those of the January-March quarter. JF Steel had said in May that the average steel product price a, had climbed to JPY 103,700 (USD 78035) a tonne in the financial year ended 31 March 2022 from JPY 74,800 (USD 560) a year earlier.
