JFE Steel Hikes SUS304 Plate, SUS430 Sheet by 20,000 yen/t

JFE Steel announced on Thursday the firm increases the base price by 20,000 yen per tonne for SUS430 grade stainless steel sheet and SUS304 stainless plate for distributors for May order. The firm starts price hike negotiations with individual contract users. The firm said the price hike is due to tighter supply balance. However, the record high ferrochrome price apparently impacts on the price policy. The firm plans to increase the finishing extra charge by 10,000-20,000 yen per tonne depending on the processes and thickness for chrome series stainless sheet for July order. JFE Steel’s stainless shipment is 50% for domestic market and the balance is for export. The firm, produces only chrome series stainless for flat products, cannot meet the strong demand for the original chrome series brand, JFE443CT, which the firm offers as substitution for SUS304 grade products.