Nissan Motor Seems to Accept Steel Price Hike by 10,000 Yen/t

Nissan Motor announced last week the firm raises central purchasing price of steel products, supplied to component makers, by around 10,000 yen per tonne effective for components accepted in July. The purchasing price seems to be raised to near 100,000 yen per tonne for hot rolled coil.

Japanese integrated steel makers have offered the price hike by 15,000-20,000 yen against large customers including automakers for April-September from January-March to reflect cost upsurge for iron ore and coal. Integrated steels and Nissan Motor seem to have agreed in the price hike mostly and Nissan Motor seems to have reflected the hike on the supplying materials though details of each price negotiation are not revealed.

The next point is the price negotiation results between integrated steels and other large automakers, Toyota Motor and Honda, for April-September.