Nippon Steel Raises Special Steel Bar Price by 15,000 Yen/t in April

Nippon Steel raises the selling price of special steel bar and bar-in-coil by 15,000 yen per tonne or more for the distributors effective for April shipment. Raw material prices are expected to rise largely in and after April while substantial material costs are also increasing such for ferrous scrap or cokes. Nippon Steel eyes the additional hike in balance with the raw material price level.

Nippon Steel’s output of special steel bar and bar-in-coil keeps steady thanks to the strong demand in domestic and overseas markets. The demand is especially firm in South East Asia and China. The firm’s output for export is higher than the peak level in the last half of 2007 and the first half of 2008.

Costs for raw materials, fuel, ferrous scrap and cokes are supposed to keep upward. On the other hand, the demand for special steel bar and bar-in-coil would maintain the high level, those which are applied to functional components for various industries.