Japan iron and Steel Co., Ltd. continues to postpone the adjustment of stainless steel contract price

Nippon Steel Co., Ltd. announced on April 9 that it would postpone the adjustment of the domestic contract price of nickel series, chromium series stainless steel cold-rolled sheet and medium and heavy plate in April 2020. This is a two-month delay in price adjustment.
The outbreak of new coronavirus pneumonia has expanded worldwide. The Japanese government also issued an emergency declaration on April 7, declaring that seven prefectures in Tokyo, Osaka, Saitama, Chiba, Kanagawa, Hyogo and Fukuoka have entered a state of emergency. The impact of new coronavirus on the market is more and more serious, and the prospect is more and more uncertain. That's why the company delayed the price adjustment.

The company also announced on April 8 that it would take measures against its head office in Tokyo, Osaka Branch, Kyushu Branch in Fukuoka county and Bafan manufacturing plant in Fukuoka County in response to the government's emergency declaration. Measures include: staff attendance is limited to the minimum necessary, in principle, face-to-face meetings, domestic and foreign business trips are prohibited.