JMB reported that Japanese integrated steel makers started price hike negotiation with major contract users including makers of automobile, appliances and shipbuilding for fiscal 2010 starting April.
As per report, the steel makers try to increase the price by JPY 15,000 to JPY 20,000 per tonne to cover higher raw materials when they agreed with miners to increase the coking coal price by 55% for April to June 2010 period from annual fixed price for fiscal 2009. The steel makers also try to shift from annual fixed steel pricing to quarterly price as raw materials pricing.