Japanese Steelmakers Are Seeking to Raise The Hot Rolled Coil Prices

It’s reported that the Japanese steelmakers are seeking to raise the hot rolled coil (HRC) prices as the depreciated Japanese Yen has led the prices of imported raw materials surge substantially.

Recently, Nippon Steel & Sumitomo Metal Corporation (NSSC) and Toyota Motor Corporation have reached an agreement to raise contract prices of automobile steel plates by 10% for April-September period.

Accordingly, it’s expected that the Japanese steelmakers would achieve to raise prices successfully.

At the same time, Japan’s HRC export prices increased as well.

Currently, the Japanese steelmakers are planning to raise HRC price to US$600/ton FOB to Korean rolling mills for July deliveries.