Steel Giant Says Higher Prices Needed to Guarantee Supply
- Huge price gap puts Nippon Steel at competitive disadvantage
- Global market to tighten further on rising demand: executive
This article is for subscribers only.
Japan’s top steelmaker issued another warning to domestic manufacturing giants: accept price hikes or stable supply may not be guaranteed any more.
A huge gap has been created between international and domestic steel prices, and Nippon Steel Corp. risks falling behind, Executive Vice-President Takahiro Mori said, calling for “urgent hikes” so that the steelmaker can compete with major foreign rivals “on an equal footing.”