JFE Steel Raises Stainless Sheet Price by 25,000 Yen/t in April

JFE Steel announced on Monday the firm raises the base price of stainless steel sheet and plate by 15% or 25,000 yen per tonne for domestic dealers effective for April order. The price hike involves nickel series stainless plate, chrome series stainless sheet and plate. This is the first base price hike since October 2009. The firm also talks with specific users separately on the hike.

JFE Steel explained the firm decided to raise the base price of stainless steel sheet and plate, separately from the nickel surcharge system, when stainless sheet supply is very tightening in domestic market and material costs are expected to surge significantly in and after April. JFE Steel is in full capacity production of stainless sheet recently.

JFE Steel mainly supplies chrome series stainless steel sheet for automobiles and home appliances. The firm’s export rate has risen due to active car production in China and Southeast Asia.

Nippon Steel & Sumikin Stainless Steel, Japanese largest stainless steel maker, has raised the base price of chrome series cold rolled stainless sheet by 15,000 yen per tonne for dealers effective for March order.