Thu Mar 10, 2011 6:01am GMT
TOKYO, March 10 (Reuters) - Nippon Steel Corp (5401.T: Quote), the world's No.4 steelmaker, said it aims to secure another price hike on its H-beam steel to pass on surging input costs, even though sluggish sales pushed inventories higher in February.
Domestic inventories of its H-beam steel used in construction rose 8.9 percent to 174,600 tonnes at the end of February from the month before, a company official said.
"Shipments were slow in February due in part to the market's seasonal weakness, but with demand from small office and other building projects increasing, we plan to implement another price hike as soon as possible," he said.
Nippon Steel boosted the price of H-beams in February to above 80,000 yen per tonne for a third consecutive price increase, sources told Reuters.
Rival Tokyo Steel Manufacturing Co (5423.T: Quote) said last month it would raise prices of all its products in March to cover rising input costs. (Reporting by Yuko Inoue, sourced :Thomson Reuters)
TOKYO, March 10 (Reuters) - Nippon Steel Corp (5401.T: Quote), the world's No.4 steelmaker, said it aims to secure another price hike on its H-beam steel to pass on surging input costs, even though sluggish sales pushed inventories higher in February.
Domestic inventories of its H-beam steel used in construction rose 8.9 percent to 174,600 tonnes at the end of February from the month before, a company official said.
"Shipments were slow in February due in part to the market's seasonal weakness, but with demand from small office and other building projects increasing, we plan to implement another price hike as soon as possible," he said.
Nippon Steel boosted the price of H-beams in February to above 80,000 yen per tonne for a third consecutive price increase, sources told Reuters.
Rival Tokyo Steel Manufacturing Co (5423.T: Quote) said last month it would raise prices of all its products in March to cover rising input costs. (Reporting by Yuko Inoue, sourced :Thomson Reuters)
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