Nippon Steel mulls to raise HRC export prices for May
Japanese Nippon Steel started the export prices negotiation of hot rolled coil (HRC) for May delivery with Asian customers this week. The company is mulling to raise the HRC export quotes by US$50/ton to US$750/ton CFR for May.
Besides, Nippon Steel is planning to raise the HRC export quotes to US$850/ton CFR this year.
In fact, the company increased its HRC export prices by US$30/ton and US$40/ton for January and February respectively. It hiked the prices by US$30/ton and US$20/ton for March and April.
At present, Nippon Steel’s export prices are at US$700/ton CFR; however, the company said that its profits were low and it would continue to hike prices for May delivery.
News Date 20 Mar 2012 15:55:44 reported by Tina Wan