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Nippon Steel, Toyota agreed on 2% sheet price cut for H1
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Reportedly, Japan’s largest steelmaker Nippon Steel and its major local customer Toyota Motor have agreed on a 2% price cut or ￥2,000/ton for the steel sheets for the period during April through September.
Before the agreement, Nippon Steel asked for a price rise of ￥3,000/ton to reflect higher costs while Toyota Motor asked for a price down of ￥5,000/ton, cite the weakening market.
The agreement between Nippon Steel and Toyota Motor usually serves as a benchmark for Japan’s local contracts prices between steelmakers and large-lot buyers.
News Date
7/27/2012 11:07:01 AM
reported by
Brian Lu
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