It is reported that Nippon Steel Corp and Toyota Motor Corp basically agreed to raise steel product prices for the April September period by JPY 20,000 per tonne on average from those for fiscal 2009 that ended in March. It will likely raise Nippon Steel’s product prices from the fiscal 2009 average of JPY 75,400 per tonne to close to the all time high of JPY 104,700 per tonne for fiscal 2008. The hike, due…

Market Watch reported that Mr Akio Mimura chairman of Nippon Steel warned that the creation of resources oligopolies was a threat to the continued growth of trade between Australia and Japan. Mr Mimura called on the fair trade authorities to strongly crack down against behavior implying towards excessive oligopoly with a view to maintaining an open and competitive market in resources trade. He didn't name…

JMB reported that Japanese dealers' H beam inventory decreased by 9.7% to 165,200 tonnes at member companies of Tokiwakai, which is group of distributors dealing Nippon Steel's products, at end of September from August 2010. With the decreases for 3 months in a row, the stock decreased to less than 170,000 tonnes for the first time since November 1973. The inventory rate was 1.84 months of the shipment…

TEX reported that, with price increases of JPY 100 to JPY 150 per tonne on offer, Nippon Steel Corporation has begun negotiations this week on its export deals of TMBP for shipments to Asian destinations in the January to March quarter of 2010. The offer prices in the negotiations are estimated at a level of USD 950 per tonne FOB. NSC is contemplating getting the negotiations into advanced stages late this…

Japan's Nippon Steel Corp and Sumitomo Metal Industries plan to merge to create the world's second-largest steelmaker in an effort to fend off tough competition from Asian rivals and offset shrinking demand from domestic automakers. The deal, which would likely see Japan's top steelmaker Nippon Steel acquiring Sumitomo Metal, comes as the industry grapples with surging raw materials prices, exacerbated…

Nissan said that its net profit during October to December quarter tumbled 34.6% from a year earlier but the Japanese automaker kept its full year profit forecast unchanged. The company said that it earned JPY 54.1 billion during the period on sales of JPY 2.21 trillion, down 5.3% YoY. It expects to book a net profit of JPY 320 billion in the fiscal year to March. Nissan’s global vehicle sales slipped 3.8%…

Nissan Motor Co., aiming to be the top seller of electric vehicles in the U.S., is hedging its bets. Nissan will use a $1.6 billion U.S. loan to retool a Tennessee plant so hybrids and other fuel-efficient models can be made on the same line as battery-powered cars to keep from wasting capacity. Electric vehicle assembly will be phased in “to avoid under-utilizing the plant while the market is developing,”…

Nissan Motor India Pvt Ltd has commenced exports on a trial basis to Europe from its Orgadam facility. The first consignment of six cars left for Barcelona through Ennore Port. The consignment would reach its destination in 22 days. Mr Kiminobu Tokuyama MD and CEO of Nissan Motor India said that “Trial transportation for exports is a very important milestone for us as we gear up for exports to Europe from…

Nissan Australia’s Dandenong South casting plant, to the south east of Melbourne, has achieved a small but significant milestone – 35 years of operation producing cast aluminium products for export around the world. And the facility, officially known as NCAP (Nissan Casting Australia Plant), is looking forward to a future of producing advanced castings for electric vehicles being built by Nissan in Japan…