Japan: Nittetsu Stainless Steel to raise prices of welded pipes by 10% for March sales

Tokyo-headquartered Nittetsu Stainless Steel Tubes will increase prices of welded stainless steel pipes by more than 10% compared to the current prices, for March. The rise in price is a result of the hike in raw material prices and other costs. Prices of molybdenum-based steel grade material has also been revised up by more than 15% in order to align pipe grades with nickel.

The company has raised its prices to ensure that the welded stainless steel pipe business maintains margins. However, the current situation saw a sharp rise in prices of nickel and other raw materials, as well as a significant increase in various costs, including electricity, energy and transport. In order to maintain a stable supply, the company decided that further price increase and new installations would be necessary.

The price increase covers stainless steel for piping (TPA/TPY) and for general piping (TPA/TPY), for sanitary (TBS) applications, for boilers and heat exchangers (TBA), decorative pipes, exhaust gas pipes and all other fields. The business will be sustained by ensuring an appropriate margin in sync with the value of the products.

The company intends to take appropriate sales measures, including the possibility of a significant additional price increase from next month onwards, while keeping a close eye on future market conditions. This will happen in the wake of the recent sharp rise in raw material prices owing to the continuing geo-political conflict.

Note: This insight has been published in accordance with an article exchange agreement between SteelMint and Japan Metal Daily.