Nippon Steel follows in line, lifts domestic H-beam prices

Nippon Steel has joined other Japanese makers of heavy sections and announced Thursday that it will raise prices of its H-beams for domestic retail sales by Yen 3,000/tonne ($19/t) for October contracts (November roll). The increase is the integrated mill's first for H-beams since it added Yen 5,000/t in June, as Mysteel Global reported.

Nippon Steel is following other makers including mini-mills Yamato Steel and Tokyo Steel Manufacturing which earlier this week said that they would be raising prices by Yen 3,000/t, as reported. Like them, Nippon Steel cited rising production costs and the need to pass these along. Subsidiary Nippon Steel Structural Shapes,