Nippon Steel joins H-beam price-rise rush, adds $23/t

Nippon Steel has joined rival Tokyo Steel Manufacturing and announced a Yen 3,000/tonne ($23/t) rise in its domestic H-beam prices for March contracts (April roll), the Japanese integrated mill's first increase in H-beam prices since April last year.

"Due to the high prices of materials, logistics costs, electricity prices and others, and the impact of foreign exchange rates, yen-based costs of domestic steel manufacturers remain high," the company said in a statement on Thursday. "Taking this situation into account, the price will be increased by Yen 3,000/tonne this