Nippon Steel to lower H-beam price by 4%

Nippon Steel to lower H-beam price by 4%

Japanese steelmaker Nippon Steel yesterday announced that it would reduce the sales price of H-beams by Yen 3'000/ton ($26/ton), or around 4 percent, for distributors effective for October orders. Nippon Steel indicated that they made such a decision since their prices are higher than the prices in international market. The price reduction marks the first time the company has lowered H-beam prices since February 1998.