Kyodo News Web site reported that Nippon Steel and other Japanese steel makers plan to half of fiscal year 2011 (4 September) prices of automotive steel sheet in the second half of fiscal year 2010, prices of more than 1 ton million yen (about 800 yuan), because iron ore and other raw materials prices, price increases of about one percent. Reportedly negotiating with car manufacturers have entered the end, is expected to reach an agreement the two sides will soon.

    It is reported that steel prices had half of fiscal year 2010, up about 2 million yen, after the price increases the cost per car would add another more than 10,000 yen, but it is estimated sale price is difficult to pass on to the car. East Japan after the earthquake due to strand breaks were forced to dramatically cut parts supply Japanese car manufacturers are in production during the recovery process, steel prices could hit glow plug,spark plug their profitability. According to sources, Nippon Steel, Toyota raised the prices of 15,000 yen per ton, is still ongoing difficult negotiations, the final price is likely to more than 10,000 yen at the level of compromise. JFE Steel and Nissan Motor are also to discuss price increases more than 1 million yen.

    It is reported that iron ore prices in the second quarter from the first quarter rose about 24% to about 170 U.S. dollars per ton. Coke prices rose 47% to $ 330, are a record high. As China's demand is still strong third quarter is expected to continue to remain high glow plug,spark plug. Japanese steel industry in March said it would price increases before the earthquake about 2 million yen, but the sharp drop in vehicle production after the earthquake, it has narrowed or more than initially planned.