According to report, Nippon Steel & Sumitomo Metal Corp (NSSMC) announced that it will raise domestic H-beam prices for March by ￥5,000/ton to bring the price to a profitable level.
The company also decided to raise the prices by ￥10,000/ton for April to September deliveries since it sees the strong demand from domestic market.
Sumikin Steel & Sharpes, the subsidiary of NSSMC, also announced to raise ￥5,000/ton for March contracts.
NSSMC sees the shipments to its customers continuing to increase and it believed the stock on the end of March will be much lower as well as the higher prices.