NSSC Reduces Ni Stainless Steel Sheet, Plate by 40,000 yen/t

Nippon Steel & Sumikin Stainless Steel Corporation reduces the domestic price of nickel series cold rolled stainless steel sheet by 40,000 yen to 375,000 yen per tonne for distributors for the shipment in June, announced on Wednesday. The firm reduces the plate price by 40,000 yen for June order. The alloy surcharge decreases due to lower nickel ingot price. The firm left the chrome series sheet price unchanged at 255,000 yen. However, the firm increases the chrome series cold rolled flat steel base price by 10,000 yen for July shipment when iron ore and metallurgical coal price increases.

The nickel series alloy surcharge decreases when the monthly averaged nickel price decreased by US$ 1.83 to US$ 9.98 per pound at London Metal Exchange in May from April and yen exchange rate increased against US dollar.

NSSC’s stainless steel selling price is relatively high for distributors compared with the domestic market price. However, the price gets closer to the dealers’ reselling price by the reduction while the dealers try to pass the higher purchase cost to the reselling price.

The dealers’ stainless steel sheet domestic shipment was firm in April and May. The shipment keeps more than 60,000 tonnes, which is regarded as the indicator level for active demand, for 2 months in a row, according to Japan Stainless Steel Coil Center Association.

The plate shipment is flat at overseas market when the nickel price decreased. However, NSSC expects the actual demand is strong when the plate is to be used in many energy related projects. The firm also sees domestic sharing processors’ shipment is increasing.