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Nippon Steel to change method of price talks with domestic clients

Japan’s top steelmaker, Nippon Steel Corp., aims to adopt a new pattern for semi-annual price negotiations of term contracts with domestic industry customers from next April and is in talks with them, a company official said on Tuesday.

Executive Vice President Takahiro Mori added that the steelmaker wanted to keep a good relationship with Toyota Motor Corp 7203.T, as one of its most important customers.

In October, Nippon Steel filed patent infringement lawsuits in a Tokyo district court against Toyota and China’s Baoshan Iron & Steel Co Ltd (Baosteel) 600019.SS.
Source: Reuters (Reporting by Yuka Obayashi; Editing by Clarence Fernandez)

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