Nippon Steel to Increase Alloy Extra for Shipbuilding Plate Export

Nippon Steel tries to increase the extra charge for shipbuilding grade steel plate export to South Korea and China. The firm improves the profitability by passing higher cost price for alloys and other materials, mainly for high tensile grade steel products and ultra thick products. The firm offers the details after the firm decides how much and when to increase. Chinese and South Korean shipbuilders increase the high tensile steel and thick plate when vessels tend to increase the capacity for efficient transportation under growing demand. However, the plate extra charge stays for more than 10 years despite of base price hike. Nippon Steel agreed with the major offshore shipbuilders to fix the plate export price for a year compared with traditional half year negotiation. The firm tries to stabilize the price by taking chance under tight plate supply. Nippon Steel steps further for the better profitability through the improvement of extra charge.