January 22, 2018 / 5:21 AM / 5 months ago

Japan steel federation: China steel output under control despite record 2017

TOKYO (Reuters) - Japan Iron and Steel Federation chairman Kosei Shindo said on Monday China’s steel output remains under control despite record output from the world’s top producer in 2017, citing abolition of illegal Chinese steel production and solid local demand.

Kosei Shindo in Tokyo, Japan April 3, 2017. REUTERS/Kim Kyung-Hoon

Shindo, who is also president of Nippon Steel & Sumitomo Metal Corp, said he is worried about higher prices of steel-making raw materials, such as coking coal and iron ore, especially as cyclone season approaches in Australia.

Nippon Steel wants to raise its product prices further this year to reflect increasing costs of raw materials and transportation, he said.

Reporting by Yuka Obayashi; Editing by Tom Hogue

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