Kobe Steel will increase the selling price by averaged 10% for light metal flat and extrusion products and by 15% for copper strip and flat products for January order.
Mr. Hiroyuki Nakayama, president of the aluminium and copper unit, said the firm needs higher selling price to improve the profitability when the operating profit could decrease by more than 10 billion yen with lower metal prices cost under higher cost for material metals and casting loss though the first half results were good due to inventory valuation gain under higher metals price.
The firm tries to shift to metal price linked price mechanism for aluminium foil products, part of which the subsidiary, Sun Aluminium Industries cannot cover higher metals price for.
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