Nippon Steel raises steel flat prices by $48/t from Oct

Nippon Steel, Japan’s largest integrated steelmaker, has decided to lift domestic prices of its sheet products for spot sales and for re-rollers by Yen 5,000/tonne ($48/t) from October shipments. Market watchers were relaxed about the increase Friday, saying the rise had been expected.

Mysteel Global was unable to confirm the hike with Nippon Steel because September 18 was a designated company holiday. However, sources close to the steelmaker said the increase is for hot-rolled, cold-rolled and pickled coils, along with galvanized coils and sheets, and that the increase equates to approximately a 6-8% climb. The steel