Nippon Steel Raises Sheet Price for Electric Appliance Makers

Nippon Steel seems to have reached an agreement for steel sheet price hike with electric appliance and industrial machine makers. Nippon Steel is likely to raise the selling price by 4-5% effective for October or January shipment.The firm raised the price for electric appliance and industrial machine makers in 2005 when iron ore and coal costs increased remarkably and in 2006 when zinc cost jumped up. The material costs such for freights, slabs, ferrous scraps and alloys have continued increasing in 2007.Steel sheet shipment is active for electric appliances mainly for flat-screen televisions. The export is also firm for industrial machines. Nippon Steel requested the hike to keep steady supply. Most electric appliance makers are disapproving for the hike since they can’t raise the selling price of the appliances for end users, while some makers are showing approval signs.