Nippon Steel raises flat steel prices by $144/t for Feb

Nippon Steel, Japan’s largest integrated steelmaker, has raised prices of its carbon steel flats sales to the spot market and re-rollers by Yen 15,000/tonne ($144/t) for February shipments, as the production costs have been rising, and this may enable the domestic steel prices to rise to match the global levels, a company official confirmed on Tuesday.

The price increment will apply to Nippon Steel’s hot-rolled, cold-rolled, pickled, and galvanized coils and sheets, and the company has started notifying its customers of the latest decision, according to the company official. “The latest price hike will not affect our long-term contract customers, but overall input costs have been rising, and all the customers