Nippon Steel, a leading H-beam producer in Japan, has decided to add Yen 3,000/tonne ($27/t) onto its H-beam list prices for spot domestic sales with immediate effect, which has been the second consecutive month for Nippon Steel to raise its monthly steel prices to pass on some added input costs and to narrow the gap with the global prices, it announced on June 10.
The Japanese steel producer, thus,
has increased its H-beam prices by Yen 13,000/t in total since May, and the
latest price adjustment also applies to Nippon Steel Structural Shapes, its subsidiary
in Wakayama in western Japan, as scrap prices and other costs including
auxiliary materials and power consumption have been on the rise.