The Japanese steelmaker Nippon Steel has announced a price increase of 5,000 yen per tonne ($32 per tonne) across its entire range of flat products, pipes and light sections for the domestic market. This was reported by Japan Metal Daily.
The new price lists will apply to October contracts (November shipments). Overall, in the 2026 financial year, the company’s cumulative price increase reached 20,000 yen/t ($127/t).
The company emphasises that it has been forced to adjust product prices due to the rising cost of coking coal, as well as increases in logistics and labour costs. Although the actual increase in production costs exceeds $32 per tonne, the decision was taken in light of current market conditions. Nippon Steel does not rule out further price rises should cost pressures remain high.
During the first half of the 2026 financial year (April–September), the manufacturer had already raised prices by 15,000 yen/t ($95/t), passing on some of the negative impact of the escalating situation in the Middle East to buyers. At present, supply on the domestic market remains limited due to a steady flow of orders and a gradual recovery in demand.
According to Nippon Steel’s assessment, the main factors driving the rise in global steel prices are geopolitical uncertainty and a reduction in the supply of coking coal due to mining accidents, particularly in China. Despite generally subdued consumption in Japan, there has been a revival in the automotive and engineering sectors, as well as in construction projects linked to semiconductors and artificial intelligence infrastructure.
As reported by GMK Center, Nippon Steel recorded a net profit of 44.75 billion yen ($283.52 million) in the 2025/2026 financial year, which ended on 31 March, compared with 383 billion yen a year earlier. At the same time, net sales rose by 15.7% year-on-year to 10 trillion yen ($63.7 billion), up from 8.70 trillion yen in the previous financial year. The company’s operating profit fell by 55.7% year-on-year to 242.9 billion yen ($1.54 billion).