Japan: hiking exports to salvage profits
Japanese manufacturers of industrial materials are raising export prices in a bid to beef up profit margins that have been thinned by a strong yen since fall, according to reports from the Nikkei of Japan.
Most of these companies have grown highly reliant on overseas markets for profits due to difficulty in lifting domestic prices amid weak demand and deflationary pressure.
Cement industry leader Taiheiyo Cement Corp has lifted its spot export prices to roughly US$40/t, around US4-5 higher than in the summer. The company plans to increase shipment prices for January-March deliveries of long-term contracts as well. Published under Cement News
