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Nippon Steel set to raise contract
prices for second half
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Waning demand also hitting steelmakers
amid yen’s decline
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Japan’s biggest steelmaker -- grappling with rising raw-material
costs, a falling yen and waning demand -- has warned the nation’s manufacturing
giants face more price hikes this year.
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Nippon Steel Corp. is securing increases on
contract prices through negotiations with domestic customers in the second half
of the fiscal year through March, Executive Vice President Takahiro Mori said
in an interview. The company will pass on the surge in costs, including for
iron ore and coking coal, which have been exacerbated by a historic decline in
the yen.