JFE Steel revised the estimation of cost up for raw materials, energy and freight to JPY 830 billion for fiscal 2008 started April, which is JPY 30 billion higher than original estimate in April mainly due to higher Australian iron ore settlement.

JFE Steel expects the cost could increase more depending on market for ferrous scrap and ferroalloy. T

JFE said that it is trying to improve the steel selling price depending on the market condition and supply balance while the firm tries to improve the stable long term procurement including certain investment for mining.