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On May 15th, the "Nihon Keizai Shimbun" reported that Japan's Nippon Steel Corporation is expected to reach a consensus agreement with Toyota Motor Co. on the price increase of about 30 percent of automotive steel prices this week. According to reports, the price of auto steel sheets will increase by 20,000-25,000 yen per ton, which is a historical increase.
After the price increase, the price of auto steel plate will exceed 100,000 yen per ton, which is the highest price of auto steel plate in 26 years.
The rebound in domestic steel prices is also fierce. As a joint venture partner of Nippon Steel, Shanghai Baosteel, an important automobile steel plate manufacturer in China, has increased the price of cold-rolled coil steel to 5,596 yuan/ton in the second quarter of this year, an increase of 17%. The China Iron and Steel Association has announced that the steel industry will enter a high-cost era.
Steel prices are testing large steel users - the automotive industry.
"Toyota is facing extreme pressure"
At the beginning of April this year, there have been reports that North and South China Volkswagen will raise the price of their models. Toyota had previously announced that “In addition to mid-size vehicles produced in North American plants, Camry will wait until late May to raise prices, and on the 5th of this month, shipments of Japanese-made Prius and Yaris (Weiyue) will begin. The models have already increased their prices.†A few days ago, local automakers in the United States have also followed Toyota and raised the prices of their models in the North American market.
On May 20, Toyota’s Chinese stakeholders said in an interview with this newspaper that the increase in the cost of raw materials such as steel has reached the limit of the acceptance of the company.
After Toyota and Nippon Steel have reached a price increase agreement, will it affect the domestic auto market? China Iron and Steel Association issued a statement earlier that the steel industry will enter a high-cost era, the domestic steel prices may continue to operate at high levels this year. This directly led to a 5%-20% increase in the price of auto parts and components this year.
At the end of February, Shanghai Baosteel issued the guidance price for steel products in the second quarter of 2008. The price of cold-rolled coil steel increased by 800 yuan per ton or 17% on the basis of RMB 4796/ton in the first quarter; hot-dip galvanizing Products are generally raised by 1,000 yuan / ton, special varieties and then raised 50-300 yuan / ton.
According to statistics, the rise in steel prices will shift the cost of new car products from most domestic auto companies to about 200 to 300 yuan. However, the cost pressures brought by the Volkswagen, which has always been known as "thick steel plate," may be even greater.
It is worth noting that steel plates account for 50% of automobiles, steel castings account for 20%-30%, and aluminum, copper and other nonferrous metals account for 3%-5%. The prices of these metals are increasing without exception. In addition, the prices of automotive-related materials such as rubber, plastics, and leather have risen, and the pressure to increase the cost of entire vehicles is impacting the price line of production companies.
As the world’s top car in the world, Toyota’s every move is affecting the sensitive nerves of other companies. It is reported that the price rise of Camry North America may affect the Japanese and Chinese markets.
Toyota China Denies Price Increases
On May 20th, our reporter called Toyota Motor China Investment Co., Ltd. to inquire about the authenticity of the price increase news. Toyota said that there is no news of price increase in China and Japan. The manufacturers will not be able to keep the pressure of rising raw materials intact. They are passed on to consumers and they will work with suppliers to digest the cost pressures they have caused.
After the price increase, the price of auto steel plate will exceed 100,000 yen per ton, which is the highest price of auto steel plate in 26 years.
The rebound in domestic steel prices is also fierce. As a joint venture partner of Nippon Steel, Shanghai Baosteel, an important automobile steel plate manufacturer in China, has increased the price of cold-rolled coil steel to 5,596 yuan/ton in the second quarter of this year, an increase of 17%. The China Iron and Steel Association has announced that the steel industry will enter a high-cost era.
Steel prices are testing large steel users - the automotive industry.
"Toyota is facing extreme pressure"
At the beginning of April this year, there have been reports that North and South China Volkswagen will raise the price of their models. Toyota had previously announced that “In addition to mid-size vehicles produced in North American plants, Camry will wait until late May to raise prices, and on the 5th of this month, shipments of Japanese-made Prius and Yaris (Weiyue) will begin. The models have already increased their prices.†A few days ago, local automakers in the United States have also followed Toyota and raised the prices of their models in the North American market.
On May 20, Toyota’s Chinese stakeholders said in an interview with this newspaper that the increase in the cost of raw materials such as steel has reached the limit of the acceptance of the company.
After Toyota and Nippon Steel have reached a price increase agreement, will it affect the domestic auto market? China Iron and Steel Association issued a statement earlier that the steel industry will enter a high-cost era, the domestic steel prices may continue to operate at high levels this year. This directly led to a 5%-20% increase in the price of auto parts and components this year.
At the end of February, Shanghai Baosteel issued the guidance price for steel products in the second quarter of 2008. The price of cold-rolled coil steel increased by 800 yuan per ton or 17% on the basis of RMB 4796/ton in the first quarter; hot-dip galvanizing Products are generally raised by 1,000 yuan / ton, special varieties and then raised 50-300 yuan / ton.
According to statistics, the rise in steel prices will shift the cost of new car products from most domestic auto companies to about 200 to 300 yuan. However, the cost pressures brought by the Volkswagen, which has always been known as "thick steel plate," may be even greater.
It is worth noting that steel plates account for 50% of automobiles, steel castings account for 20%-30%, and aluminum, copper and other nonferrous metals account for 3%-5%. The prices of these metals are increasing without exception. In addition, the prices of automotive-related materials such as rubber, plastics, and leather have risen, and the pressure to increase the cost of entire vehicles is impacting the price line of production companies.
As the world’s top car in the world, Toyota’s every move is affecting the sensitive nerves of other companies. It is reported that the price rise of Camry North America may affect the Japanese and Chinese markets.
Toyota China Denies Price Increases
On May 20th, our reporter called Toyota Motor China Investment Co., Ltd. to inquire about the authenticity of the price increase news. Toyota said that there is no news of price increase in China and Japan. The manufacturers will not be able to keep the pressure of rising raw materials intact. They are passed on to consumers and they will work with suppliers to digest the cost pressures they have caused.
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