Nippon Steel lifts domestic flats prices

Nippon Steel is adding Yen 5,000/tonne ($34/t) to domestic prices of carbon steel sheets and coils for February contracts (March shipments) to offset rising raw materials, labour and transportation costs, warning that the increase is a first step and that further increases are being examined.

The rise, the company's first since June 2022, applies to sales of hot-rolled and cold-rolled coils and sheets, pickled coils and some coated sheets and coils to distributors, re-rollers and companies processing steel pipes, light sections and similar items. Late last month mini-mill Tokyo Steel Manufacturing, Nippon Steel's rival, raised