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NEWS that Nippon Steel has negotiated a 33% price cut in its iron ore supplies from Australian miner Rio Tinto has bolstered Japanese shipyards’ stance in their fight for greater reductions in steel plate prices.
Despite concluding steel plate deals with South Korean shipyards at around US$700 per tonne. Japan’s leading steel mills Nippon Steel and JFE Steel have been driving a hard bargain with their compatriot shipyards. They have offered a ¥15,000 (US$154.40) markdown...
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