NSSC Increases Stainless Sheet and Plate Prices by 55,000 y/t in May

Nippon Steel and Sumikin Stainless Corporation (NSSC) announced on Thursday the firm raises the selling price of cold rolled nickel series stainless sheet and plate by 55,000 yen per tonne for domestic dealers effective for May shipment. For chrome series products, the firm raises the selling price by 15,000 yen per tonne. The firm doesn’t change the base price of nickel series sheet at 290,000 yen per tonne and chrome series sheet at 235,000 yen per tonne. Consequently, nickel series cut edge coil price increases to 415,000 yen and chrome series coil to 255,000 yen.

NSSC revised the alloy rink system in April to reflect monthly average alloy price on stainless product prices. Averaged nickel price was US$ 11.81 per pound and averaged chrome price was US$ 1.44 in April. Nickel price surged by US$ 1.62 and chrome price upped by US$ 0.35 from March. Yen exchange rate weakened by 2.89 yen to 94.41 yen per dollar from March. The latest hike covers these costs up.

At the same time, NSSC revises steel extra for dealers when molybdenum price is rising. The firm increases the extra of SUS316, SUS316L by 20,000 yen per tonne in accordance with US$ 16-20 per pound.

Overseas demand maintains strong for cold rolled stainless sheet. NSSC said cold sheet export price is approaching CIF US$ 3,500-3,600 per tonne to Asia for June shipment while the price has surged by US$ 1,200 per tonne to Europe since the beginning of this year. The supply and demand balance is also tightening in Japan. Domestic cold sheet inventory lowered to record 1.41 months of shipment at the end of April.

Plate demand is also improving. NSSC’s Yawata Works is increasing plate production more than initially planned when orders are increasing for tank ultrahigh vacuum chambers. The works’ production is expected to increase by 10% to 9,000-10,000 tonnes for April-June from January-March. Hikari Works entered scheduled repair on May 6th, restarting operation on May 17th.