NSSC Increases Ni Stainless Cold Rolled Price by 5,000 yen in October

Nippon Steel & Sumikin Stainless Steel Corporation announced on Tuesday the firm increases nickel series stainless cold rolled steel sheet and plate by 5,000 yen per tonne for order in October to cover higher material cost. The nickel series cold rolled sheet price increases to 360,000 yen for base size with 2 millimeter thick, which increases for 6 months in a row and total increase is 75,000 yen. Due to the exchange fluctuations, chrome series cold rolled price declines by 1,000 yen to 248,000 yen for base size. The averaged nickel ingot price at London Metal Exchange increased to US$ 8.42 per pound in August-September from US$ 8.08 in July-August.

NSSC increases nickel series stainless steel plate price by 5,000 yen per tonne in October. The domestic plate demand remains low while NSSC gets many inquiries for overseas project. However, some of overseas consumers take wait-and-see stance due to the growing uncertainty about nickel price.

NSSC would increase chrome series cold rolled sheet price by around 4,000 yen for order in November when the firm agreed to increase ferrochrome purchase price by 14 US cents to 111 US cents per pound for October-December from July-September.

NSSC’s operating rate of cold rolled sheet stays at around 70% compared with the peak. Some of the idled facilities are not scheduled to restart when the demand is unforeseeable after October.