NSSC to Raise Cr Series Stainless Flat Steel Price for May

Nippon Steel & Sumikin Stainless Steel Corporation (NSSC) announced on Wednesday the firm lefts selling price of nickel series cold rolled stainless steel sheet and plate price unchanged for the dealers for May order. The firm increases selling price of chrome series stainless steel by 10,000 yen to reflect higher ferrochrome cost.

NSSC increases nickel series stainless base price by 5,000 yen per tonne for May order, which is the first base price hike since September 2011, while the firm reduces the alloy charge by 5,000 yen. The firm increases alloy charge of chrome series stainless steel by 10,000 yen to reflect around 16% higher ferrochrome cost for April-June from January-March. The firm lefts base price unchanged.

Average nickel price at London Metal Exchange decreased by US$ 0.37 to US$ 8.12 per pound in April from March. Ferrochrome purchase price increased by 20 US cents to 143 US cents per pound in April-June from January-March.

Nickel series cold rolled stainless sheet market is weak under increasing import and higher inventory. Market price in Asia decreased by around US$ 50 to CIF US$ 2,750 per tonne.