Reportedly, Japan's Nippon Steel & Sumitomo Metal Corp (NSSMC) announced to hike its H-beam spot prices by€3,000/ton for September contract, supported by stronger demand and tighter supply. The spokesman of NSSMC said that the price rise should be accepted by the market as the demand for H-beam is strong and the stocks fall. Meanwhile, NSSMC will initiate its scheduled maintenance at its large section mills in Kashima and Kimitsu in late September and October. Thus, its output will become lower in the period of time.
