Nippon Steel Raises Non-Directional Magnetic Steel Sheet by US$ 50-100 to China

Nippon Steel agreed to raise the export price of non-directional magnetic steel sheet by US$ 50-100 per tonne to China and ASEAN for July-August shipment. Chinese sheet makers currently raised their selling price after drastic price down. At the same time, the demand is recently increasing from electric appliances thanks to Chinese governmental economic measure. Consequently, Chinese market price is rising. Nippon Steel’s selling price reached C&F US$ 600 per tonne for some users. Nippon Steel will more raise the selling price for September shipment.

Non-directional magnetic steel sheet is used such for motors of electric appliances. The demand dropped for January-March due to economy downturn and conservative buying of consumers under inventory adjustment. The market price decreased to around US$ 550 per tonne in March.

The demand from home appliances recovered thanks to economic stimulus measure by each country’s government and progress of inventory adjustment. Orders from China or ASEAN are increasing to Japanese steel makers such as Nippon Steel since mid May.

China Steel, Taiwanese largest steel maker, raised the selling price of non-directional magnetic sheet by NT$ 1,000 per tonne (approximately US$ 30) to domestic users for July-August shipment. Anshan Steel raised the selling price by 500 yuan (approximately US$ 73). Bao Steel raised the price by 450 yuan per tonne (approximately US$ 65), too.