Nippon Steel Increases Directed Magnetic Steel Sheet Price by US$ 300 in October

Nippon Steel decided to increase export price of directed magnetic steel sheet by US4 300 per tonne from October shipping. The supply and demand balance isn’t tight when large industrial project is in drop-off period, but developing countries are starting electric power projects, and the balance is expected to be tight in next year. Consequently, the firm advances price hike of magnetic sheet.

No.4 bid tender of State Grid Corporation of China, Chinese major digital network company, was carried out in August. Offshore appliance makers, TOSIHBA, Japanese major appliance maker or Siemens, German major electronics and industrial machine maker, were accepted order of large size electric transformer. Chinese heavy industrial makers are buying domestic electric transformer. The no.4 bid tender increased by double bid from previous bid when Chinese heavy industrial makers adopted offshore transformer makers which have high technology for enhancement of environmental control.

State Grid Corporation of China carries out bid at 6-8 times per year. Electric power developing project is starting in the world after Lehman’s fall when each country needs stable supply of electric power with economic growth, while enhances environmental control. The demand for high grade magnetic sheet is increasing when the sheet reduces loss of electric power. Offshore users are already increasing order for magnetic sheet, according to Japanese integrated steel makers.

Bao Steel, Chinese major steel maker reduced selling price of magnetic sheet by 800 yuan per tonne for September sales. Chinese market for magnetic sheet doesn’t recover. However, the market price hit bottom for magnetic sheet. Bao Steel is expected to raise selling price in October sales.