Daido Steel Raises Extra Price of Structural Steel with Nickel Price

Japanese major structural steel maker, Daido Steel announced on Thursday the firm raises the selling price of structural steel containing nickel from July construct. The firm will modify the extra price for nickel price due to the sharp increase in nickel price, and will pass the higher nickel cost on the firm’s selling price. The firm didn’t specify the rising rate of the selling price because the selling price is left in the individual negotiation. However, the firm will raise the selling price of SNCM420 type by 5,000 yen per tonne in every US$ 1 per pound increase of nickel price.

The firm considers revision of the nickel extra price depending on nickel content for other stainless steel products.

The firm decided the revision of the extra price with nickel price because the average nickel price for London Metal Exchange increased by about US$3 to US$9 per pound for April-June. The firm had amended the extra price when nickel price rose to US$6 from US$3 in 2004.