Nisshin Steel Raises Ni Series Stainless Sheet Price by 30%

Nisshin Steel announced on Monday the firm raises the selling price of nickel series stainless steel sheet (SUS 304) by 30% and the price of chrome series stainless sheet (SUS 430) by 15% for April-May contracts with dealers compared with the end of March. The firm reflects cost up of nickel and other materials. The firm also raises the selling price of stainless steel tube by 20%. The operative ratio of Shunan Works currently exceeds 90% compared with the ordinary level. The supply is tightening. The price is based on nickel price at US$ 10 per pound.

Nisshin Steel explained the firm had raised the selling price of nickel series sheet by about 40,000 yen per tonne till April and puts the rest cost up by the latest hike due to high nickel price. The firm has increased the export since domestic demand for stainless products maintained low level. However, domestic orders are gradually recovering at present. Nisshin Steel said the firm hasn’t passed rising iron ore and chrome costs on the selling price enough.

Nisshin Steel introduced alloy surcharge system, along which the firm uses raw material prices during March 21-April20 or April 21-May20 as the price indicators. Nisshin Steel tries to shorten productive lead time when raw material price fluctuates roughly.