Hitachi Metals Announces Price Increases Due to an Increase in Costs
of Raw Materials, Secondary Materials, etc.
January 26, 2018
Hitachi Metals, Ltd.
Hitachi Metals, Ltd. (hereinafter, "Hitachi Metals") has decided to increase prices across all alloy alloys and product forms due to a sharp rise in prices of raw materials, secondary materials, etc. These changes will be applicable to products to be delivered on and after April 1, 2018.
In recent years, Hitachi Metals has endeavored to absorb the effects of price increases of raw materials that are required for specialty steel, magnetic materials and applications, functional components and equipment, and wires, cables and related products as well as the increased costs of secondary materials including supplies, electricity, fuel, other expenses, etc. Unfortunately, such price increases are likely to continue in the future and the increased costs have reached a level that overwhelms the achievements of corporate cost reduction efforts such as improvement in yield and rationalization of production.
| (1) Applicable products | All products (all products of the Specialty Steel Company, Magnetic Materials Company, Functional Components Company, and the Cable Materials Company) |
|---|---|
| (2) Effective date | Applied to products to be delivered on and after April 1, 2018 |
| (3) Scope of application | All domestic and export transactions |