Sumitomo Metal Industries Ltd has announced plans to increase export prices from October as rising energy demand lifts sales for the pipes used to extract oil and gas. The company is seeking price increases of USD 300 per tonne for the six months starting October, following an increase of the same size in the fiscal first half. Mr Saburo Eguchi senior Managing Executive Officer said in an interview in Tokyo that “Our customers have already agreed to pay increased material costs earlier. We’re now starting negotiation to raise prices for the second half as the market tightens.”
