Nippon Steel adds another $157/t for plate prices from May

Nippon Steel, Japan's largest integrated steel producer, has decided to add Yen 20,000/tonne ($157/t) to its commercial-grade heavy plate prices for both domestic spot sales and construction project-based contracts from May, making for the second on-month increment amid the surge in production costs, a company official shared.

The company last added Yen 10,000/t to its plate prices for April sales, also claiming the rising production costs, as reported. The official explained that Nippon Steel has been deciding hikes for its products one by one because overall steel production costs have been rising sharply. "The April and May plate