Nippon Steel Gets US$ 20/t Hike for Container Hot Coil for China

Nippon Steel concluded the price hike negotiation with Chinese buyers to increase the hot coil export price by US$ 20 per tonne for container application for July shipment. The firm didn’t disclose the price but the price reaches apparently C&F US$ 600 per tonne. Nippon Steel ships around 10,000 tonnes of hot coil for the buyers. Chinese buyers sought wide drop of the price under slow demand for container. The price gap was very wide when Nippon Steel offered hike and Nippon Steel considered skipping the export under tight steel source in the company. However, the buyers compromised to accept certain price hike to secure materials. They agreed to hike the price only for July shipment though they usually negotiate for quarterly basis.