NSSC Raises Ni Stainless Flat Steel Price by 10,000 yen/t

Nippon Steel & Sumikin Stainless Steel announced on Monday it raises selling price of nickel series cold rolled sheet and plate by 10,000 yen per tonne for January order to reflect higher cost for alloy materials. The price for cold rolled sheet is 300,000 yen. The firm could increase the selling price again for February order when nickel price increased since the end of 2005 reaching US$ 6.68 per pound at London Metal Exchange along with higher yen rate. The firm increased the alloy price by 10,000 yen per tonne for nickel series cold rolled sheet for January order to reflect higher nickel price at averaged US$ 5.80 per pound in November-December at LME while the firm left the base price unchanged. The total selling price reached 300,000 yen for the first time since October 2005. The firm will keep the production level to meet the demand. The firm said it tries to improve the supply balance by keeping lower output level for January-March when some distributors still have overstock. The firm said the inventory balance will get better in near future. The firm said the offshore demand is firm so far. The firm said the domestic demand is firm and the price gap is getting narrower with imports. The firm left the selling price of chrome series stainless products unchanged for January order.