Nippon Steel to Increase Plate Price by 10,000 yen from July Shipment

Nippon Steel increases plate steel and checker plate price by 10,000 yen per tonne for distributors and steel structure fabricators from the shipment in July, announced on Thursday. The firm notifies the buyers of the price hike this week. Nippon Steel explained the firm increases the price to keep the stable supply while the cost price is increasing. Nippon Steel increased the price by 15,000 yen for April shipment to spot users. The firm is concluding the 15,000 yen price negotiation with contract users including shipbuilders effective in April and seeks another 10,000 yen hike.

Plate supply of Nippon Steel remains tight. The shipment increases to domestic users due to the improving demand for construction machinery and general machine while the operation rate of the shipbuilders stays at high level. The firm estimates the demand bottomed out for construction and the export would increase due to the growing demand in East Asia.

Plate dealers would increase the reselling price. Japanese plate inventory ratio to shipment was 1.7 months in March, the adequate level, according to the dealers’ group.