NSSC Raises Flat Rolled Stainless Steel Prices in March and April

Nippon Steel & Sumikin Stainless Steel Corporation (NSSC) announced on Wednesday the firm raises selling price of nickel series stainless steel cold rolled sheet by 20,000 yen per tonne and plate price by 30,000 yen per tonne for March order for domestic dealers. The firm reflects nickel market price upsurge on selling price while raises base price for nickel series stainless steel plate by 10,000 yen. Selling price of chrome series stainless steel cold rolled sheet is unchanged for March order.

For April shipment, NSSC decided base price hike by 10,000 yen per tonne for nickel series cold rolled sheet and by 20,000 yen for chrome series cold rolled sheet in order to cover jumping costs for iron ore, coking coal and energy. NSSC’s shipment price of cold rolled sheet reaches 400,000 yen for nickel series and 255,000 yen per tonne for chrome series in March.

NSSC will raise base price of nickel series cold rolled flat steel in April, for the first time in late 5 months. As for chrome series cold rolled flat steel, this will be the first base price hike in 10 months. Chrome series products reflect material cost upsurge for iron ore and coking coal more sensitively than nickel series. Base price hike of plate involves energy cost up in Yawata works.

Alloy price for March shipment is based on monthly average of London Metal Exchange nickel price, US$ 12.82 per pound in February. The price upped by US$ 1.19 compared with the level in January. Market price of nickel series stainless steels are surging in Europe, the U.S.A. and Asia. Especially in Asia, market price jumped by US$ 300-400 per tonne in the latest one month and reached around US$ 4,300 in China.