NSSC to Increase Ni Stainless Plate, Cold Sheet Prices by 10,000 yen/t

Nippon Steel & Sumikin Stainless Steel (NSSC) announced on Monday the firm increases the selling price of nickel series plate and cold rolled sheet by 10,000 yen per tonne for May orders from April when nickel and ferrochrome prices surged up. The cold sheet price increases to 515,000 yen per tonne for the products with 2 millimeters thick or less, which increases for 3 consecutive months.Nickel price at London Metal Exchange increased to US$ 13.61 per pound for the average during March-April, up by US$ 0.19 from February-March. Ferrochrome price increased to US 164.5 cents per pound for the average during March-April, up by US 35.5 cents from February-March. Japanese yen became stronger by 2.36 yen per US dollar while the period. In addition, ferrochrome import tax was abolished in April. These factors are reflected to the firm’s alloy price system.The firm said rising ferrous scrap and oil prices also impact the firm’s profits and the firm is prepared to put the additional costs on the selling price.NSSC also announced on Monday the firm increases the selling price of chrome series stainless steel sheet for domestic dealers by 13,000 yen per tonne for May orders. The cold sheet price increases to 294,000 yen per tonne for the products with 2 millimeters thick. The demand for chrome series sheet keeps strong from automobiles, especially for high grade sheets.