Japan’s Nippon Steel is negotiating delivery prices for Q3 2022 with downstream customers such as automobiles, home appliances and construction. The steel major is requesting for an increase of JPY 40,000/t ($309/t) for the quarter in order to reflect rising costs of raw materials such as iron ore, coal, zinc, oil, etc. as well as increased freight costs. Exchange rate fluctuations since the Russia-Ukraine war have also pushed up production costs.
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