Wednesday, July 16, 2008

Nippon Steel Raises Plate Price to Offset Costs

Nippon Steel Corp., the world's second-biggest maker of the metal, raised prices of plate used by shipbuilders and machinery makers for the third time this year to pass along surging costs for energy, ore and other materials.

Steel plate sold through wholesalers on an immediate- delivery basis will increase 10,000 yen ($95) a metric ton on Aug. 1, said Masato Suzuki, a spokesman for the Tokyo-based company. Prices have jumped 50 percent since the quarter ended March, when the company said its average product price was 80,200 yen a ton.

Source Asia

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