Nippon Steel & Sumikin Shapes (NSSS), a subsidiary of Nippon Steel & Sumitomo Metal Corp (NSSMC), the largest steelmaker in Japan informed its distributors to raise the prices of H beam by ￥3,000/ton for February contracts.
A spokesman of NSSS said that the company decided to raise H beam prices in order to reflect higher raw material costs.
Meanwhile, it's known that NSSS produces around 20,000 tons of rolled H beams per month at an electric furnace plant located at NSSMC's Wakayama works