Nippon Steel plans price hike
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Nippon Steel Corporation, the world's second-biggest steelmaker, plans to raise prices for sheet steel and steel plate by 10 to 20 per cent to pass on the high cost of raw materials, the Nikkei daily reported on Monday. Nippon Steel plans to charge 20,000 yen ($190) more per tonne for thick plate used for ships and power generation equipment, from April, and 10,000 to 20,000 yen more for sheet steel used in cars and appliances, the business daily said. An industry source told Reuters last week that Japanese steelmakers are planning price increases of about ¥15,000 per tonne to cover the rising cost of iron ore, coal and other costs such as freight and alloys. Rising costs forced Japan's JFE Holdings Inc, the world's third-biggest steelmaker, to cut its full-year profit forecast by 7 per cent this month. -Reuters
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Source : Business Line |
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