NSSC Stops Order Acceptance for Nickel Series in June

Japanese stainless steel manufacturer, Nippon Steel and Sumikin Stainless Steel (NSSC) announced on Wednesday the firm doesn’t accept all orders for nickel series cold rolled stainless steel sheet for distributors in June order. The firm reduced the accepted order by 30-50% for the contract in April-May. But the firm will enhance the adjustment of the supply and demand when the market inventory is increasing.The firm’s operation rate is expected to decrease for nickel series process in Hikari works due to the adjustment for accepted order. However, total operation rate keeps because the firm started chrome series stainless steel sheet at 2,000-3,000 tonnes per month from the beginning of this year.Meanwhile, the firm increased the export price of nickel series cold rolled stainless steel sheet to C&F US$ 5,500-5,600 per tonne by US$ 100-150 for the shipment in July from last month. The firm judged overseas market demand keeps firm but users are purchasing stainless products only when needed due to continuous increased alloy surcharge price by makers, and some makers such as POSCO are starting the reduction of their production.