NSSC Raises Price of Ni Stainless Sheet Price, Lowers Cr Sheet

Nippon Steel & Sumikin Stainless Steel Corporation (NSSC) announced on Monday the firm raises the selling price of nickel series plate and cold rolled sheet by 10,000 yen per tonne effective for June orders. The firm decreases the selling price of chrome series cold rolled sheet by 3,000 yen per tonne. This announcement reflects rising and dropping material costs for iron ore, coal and ferrous scrap. The selling price reaches 300,000 yen per tonne for Ni series plate and cold sheet, which surges for 2 consecutive months. The selling price decreased to 241,000 yen for Cr series products, which lowers for 2 months in a row.

Nickel price increased by US$ 0.67 to average US$ 5.4 per pound for April-May from the previous term and yen exchange rate strengthened by 0.85 yen to average 98.7 yen per US dollar. Ferrochrome price was set at 77 cents per pound for April-June.

NSSC said cold rolled stainless sheet price is rising in China and East Asia and domestic inventory adjustment has advanced. The firm pointed out the product shipment is active among market dealers with an expectation nickel price would rise more. Chinese makers’ output seemed to hit record high in April, according to NSSC. On the other hand, the firm said NSSC will keep the order receipt control when the operation rate still stays as low as 60% against the capacity due to slow demand.

As to plate, NSSC said the orders are increasing from overseas users for oil and chemical plants in Middle East and China. The orders for solar and atomic power generation desalination plant projects are expected to recover in summer. The demand for vacuum-chamber is rapidly increasing. However, the firm said domestic demand maintains low. NSSC expects the demand recovers when dealers’ inventory adjustment has progressed.