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| Aichi Steel |
Aichi Steel, a Japanese manufacturer of specialty and stainless steel, announced that it will increase the price of all stainless steel products by 10% for June contracts. This price increase will apply to all product categories, including round bars, shaped steel, and forgings.
Aichi Steel explained that the price hike is unavoidable due to the continued rise in nickel prices in the second quarter, following the increase at the beginning of the year, to ensure a stable supply. Previously, in February this year, Aichi Steel had raised the prices of structural steel, spring steel, bearing steel, tool steel, and stainless steel, citing the '2024 logistics issue' (Japan's equivalent of the 52-hour workweek) and the strong prices of major alloy raw materials.
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