Nippon Steel to Hike H-Beam by 10,000 yen/t

Nippon Steel announced on Tuesday the firm increases H-beam selling price by 10,000 yen per tonne or more than 10% for distributors for March order. The selling price renews the record by the hike just after the firm increased the price by 12,000 yen. The firm tries to pass the extremely higher cost when the input cost increases for subsidiary materials, ferrous scrap and freight and iron ore and coal could jump for fiscal 2008 starting April. The firm said total 22,000 yen per tonne hike for February and March order could cover the higher cost. The firm recognizes the new price level is in line with international market despite of uncertainty for foreign exchange rate. The firm tries to keep the normal inventory level in the distributors’ market by adjusting the supply while the buyers try to secure the materials before the price jumps. The firm indicates the firm gets order for spot transaction at the market price level depending on individual buyers.