Nippon Steel hikes price of H-beam

Nippon Steel hikes price of H-beam

According to recent news in the market, Japan steel mill Nippon Steel has recently hiked price of H-beam for March contracts by 14%, indicating an increase of Yen 7'000 ($63) per ton. In line with the statement released from Nippon Steel, this increase is lower than the price increases effected by other steel producers in the country. As previously reported by SteelOrbis, Tokyo Steel increased price of H-beam by Yen 12'000 ($108) per ton to Yen 70'000 ($633) level . An official from Nippon Steel stated that, as they find the prices in the market very high, which are over Yen 70'000 levels, the increase effected by the company is much more reasonable and may cool down the market.