Japan's JFE Holdings to raise steel product prices from April

JFE Holdings

21/02/2024 11:00

TOKYO, Feb 21 (Reuters) - JFE Holdings  5411.T  plans to
increase steel products sale price by 10,000 yen ($66.71) per
ton from April to reflect rising raw material costs and global
inflation, an official at Japan's second-biggest steelmaker said
on Wednesday.
    The move follows price increases this month by Tokyo Steel
Manufacturing Co Ltd  5423.T , Japan's top electric-arc furnace
steelmaker. 
    Hirotsugu Yamanouchi, general manager at JFE's sales
coordination and operation planning department, added that the
price hike was also necessary to continue funding the company's
decarbonisation efforts, as Japan aims to reach zero net
emissions by 2050.
    While the basic increase will be 10,000 yen per ton, or 10%
on average, prices could be higher for some customers and will
be decided on an individual basis, he said. 
    ($1 = 149.9000 yen)

 (Reporting by Katya Golubkova ; additional reporting by Maki
Shiraki; editing by Jason Neely)
 ((ekaterina.golubkova@thomsonreuters.com;))