Nippon negotiates price increases with carmakers

Japanese steelmaker Nippon Steel has begun negotiations with large automakers for increasing prices of its sheet products due to the higher prices of iron ore, zinc and other materials. Nippon Steel also aims to increase the prices of sheet and other products sold as construction supplies or electrical appliance parts. Other major steelmakers are expected to follow the leading steelmaker's move, resulting in the fourth consecutive annual rise in steel prices.