According to report, Nippon Steel may raise its domestic prices for hot rolled, cold rolled and coated flat product this month. Currently, the company may look for a lift up by JPY 5,000 per tonne on raw material costs rise.
After the adjustment, the price of HRC is expected at around JPY 75,000 to JPY 80,000 per tonne; however, the price may not be accepted from current market as the actual price may be at JPY 65,000 to JPY 70,000 per tonne.
Meanwhile, for its contract price with Tokyo Steel, the flat product prices have rose by JPY 8000 per tonne in January. Market participants expect further price hike among distributors and traders for the domestic market.
(Sourced from YIEH.corp)