Nippon to raise sheet steel price to Toyota Motor Corp.
Metal Stocks | 2011-06-13 10:02:19
Nippon Steel Corp. (5401.TO) is soon expected to raise its sheet steel price by more than JPY 10,000 per metric ton in April to September period, according to a report in Market Watch.
By Paul Ploumis
TOKYO (Scrap Monster): Nippon Steel Corp. (5401.TO) is soon expected to raise its sheet steel price by more than JPY 10,000 per metric ton in April to September period, according to a report in Market Watch.
Nippon will raise the price of the sheet steel that it supplies to Toyota Motor Corp. (7203.TO) for use in auto production. The increase is expected due to higher costs of raw materials such as iron ore involved in the production of sheet steel.
The source of the report has not been known however, there is speculation of Nippon steel to plan similar price rises for other Japanese automakers.
