Sumitomo Metal aims to raise pipe prices by 20 pct

TOKYO, March 17 (Reuters) - Sumitomo Metal Industries Ltd , a maker of seamless pipes used in oil fields, said it was in talks with Japanese customers to raise pipe prices by 20 percent from April 1.

Sumitomo Metal, Japan's third-biggest steelmaker, said the price hike is aimed at offseting rises in costs of raw materials such as coking coal and iron ore.

Demand for seamless pipes is recovering in Japan and other Asian countries thanks to stronger demand from the energy, construction and machinery sectors, the company said.

(Reporting by Yuko Inoue)

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