Nippon Steel Reduces H-Beam Price by 13,000 Yen/t in June

Nippon Steel seems to have announced H-beam price down by 13,000 yen per tonne for June orders from dealers. The firm had reduced the selling price by 40,000 yen in February. Nippon Steel’s selling price lowers to the level as same as Tokyo Steel Manufacturing’s, Japanese largest electric furnace steel maker.

Nippon Steel plans equipment maintenance of Sakai iron works in mid July. The firm produces H-beam ahead of the maintenance schedule and closes the order acceptance on June 8-9.

A dealer source analyzes Nippon Steel reduces the selling price this time and will turn to the price hike soon. South Korean and Chinese H-beam makers are increasing the selling price. Nippon Steel will examine the price hike when dealers’ H-beam inventory decreased at the end of April from a month ago and represented shrinkage for 5 consecutive months.

H-beam market price is currently 73,000 yen per tonne around Tokyo, down by 54,000 yen from the peak. Nippon Steel decided the price down in accordance with low market price. Dealers are forced to sell in deficit. Tokyo Steel Manufacturing had lowered the selling price earlier than Nippon Steel.