Nippon Steel Increases Tin Plate Price by 20,000 Yen/t in April

Nippon Steel increases the selling price of tin plate and tin-free plate by 20,000 yen per tonne for domestic market effective for April shipment. This is the first hike since July 2008. Raw material supplies are offering quarterly contracts to steel makers while tin plate users, mainly can manufactures, are requesting stabilization of steel price based on yearly contracts. Nippon Steel explained the firm would need to raise the selling priced even within this fiscal year if raw material price rises largely.

Raw material prices are expected to rise as well as substantial materials including ferrous scrap. Tin plate makers’ production cost is also increasing due to severe quality requirement from the users. Nippon Steel continues full production of cold rolled sheet and tin plate to meet the strong overseas demand. The firm decided the price hike for stable supply of tin plate.