Sumitomo Metals plans pricing revision

Sumitomo Metal Industries Ltd has begun negotiations to revise domestic pricing of seamless pipes for all domestic customers. The revision will apply to all domestic customers (spot sales and long-term contracts) of seamless pipes. The revision will be an incremental price increase of 20%. The revision will be implemented from April 2010 onwards. Depending on the pricing of raw materials and development of other factors, quarterly revisions may also be implemented. Sumitomo Metals is also planning to implement similar price increases of gas tubes and other welded steel pipes.

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