Toyota will increase steel prices by 12% for suppliers

Toyota is going to increase the rates of steel for their suppliers and other Japanese used cars dealer. The price will raise in second half of the fiscal year 2013. The information is limited to three people according to Bloomberg, that is a benchmark in auto industry.

Toyota Motor Corp. is going to increase the price of steel to its suppliers by 12 percent to whom they sell it. The rates will be introduced and raised in the second half of this fiscal year. According to Bloomberg only three people are familiar and aware of this latest news, lifting a benchmark used in the country's auto industry.