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Nippon Steel has raised domestic prices for flat steel products by JPY 5,000 (USD 32) per ton for November deliveries, according to the local media reports.
The increase applies to all flat steel products for domestic retail, rerolling, pipe and light structural steel applications. This is the company’s third price increase this year, bringing the cumulative increase to JPY 20,000 (USD 127) per ton.
The company cited the prolonged deterioration of the situation in the Middle East, higher raw material prices and continued increases in labor and logistics costs.
Nippon Steel Corporation, headquartered in Tokyo, is Japan’s largest steelmaker and the world’s third-largest steel producer. The company has consolidated global crude steel production capacity of around 76 mln tons per year, including 44 mln tons in Japan and 32 mln tons overseas, with a long-term target to expand capacity to 100 mln tons per year.
1 USD / 158 JPY
