Japanese Nippon Steel & Sumitomo Metal announced to raise its heavy plate price by JPY3000/ton (US$32/ton) for March again since price up in February by JPY3000/ton (US$32/ton).
Due to the weak market, mill's profit was cut sharply. Thus, the mill expected to raise the price by JPY10000/ton (US$106/ton) for April to cover the increasing raw material cost.
Besides NSSMC, Tokyo Steel raised its heavy plate price by JPY3000/ton in Feb, and JPY2000/ton for March. Chubu Steel Plate also raised its heavy plate price by JPY3000/ton for March.