NSSC Increases Stainless Sheet Price by 5,000 y/t in Feb

Nippon Steel & Sumikin Stainless Steel (NSSC), Japanese largest stainless steel maker announced on Monday the firm raises the selling price of nickel series stainless steel sheet by 5,000 yen per tonne and stainless plate by 10,000 tonnes for domestic dealers for the contract in February. The firm raises the products prices by 10,000 yen with alloy surcharge, but reduces sheet price by 5,000 yen with base price. The nickel series sheet price increases to 360,000 yen for the size in 4 millimeters thick, which increases for the first time in 4 months. Chrome series sheet price is flat at 252,000 yen.

NSSC raised the selling price of nickel series sheet by 5,000 yen for the contract in January, while reduced the base price compared with overseas market price.

Nickel price was average US$ 8.06 for October-November 2009, and decreased US$ 7.73 for November-December 2009, while increased to US$ 8.05 for December2009- January 2010. The firm raises the selling price by 10,000 yen with alloy surcharge of nickel price and yen rate chrome price for the contract in February.

Yahata works’ production capacity decreases by 20-30% for stainless plate duet to scheduled repair for January-March. Consequently, the firm didn’t change the base price. The demand for stainless plate is good for LNG development or oil and chemical plant construction. NSSC is receiving many orders. The demand is expected to increase in the future when large desalination plant is planned in overseas. On the other hand, the firm reduces the supply to domestic dealers when the demand keeps low for domestic market.