Daido Steel will raise prices again for all grades of tool steel against the backdrop of rising energy costs due to the situation in the Middle East. The increase will apply to domestic and export customers for contracts from October. Nippon Koshuha Steel has also been reported to be raising prices by ¥40,000 or more for October contracts.
Daido Steel has implemented and announced an additional price increase covering all grades of tool steel. The increase applies to domestic and export customers and will take effect for contracts from October. Although the article does not provide a breakdown of the specific new prices, it reports that prices will be raised across all product grades.
The increase in energy costs due to the situation in the Middle East is cited as the background to the price increase. The report suggests that higher raw material and manufacturing costs may also be contributing factors.
In a similar development, Nippon Koshuha Steel has also been reported to be raising prices by ¥40,000 or more for October contracts. The article does not specify the detailed terms of application, but the move appears to be in line with price revisions by other companies in the industry.