NSSC Downs Ni Stainless Steel Price, Ups Cr Series in April

Nippon Steel & Sumikin Stainless Steel (NSSC) announced on Monday the firm reduces the selling price of nickel series cold rolled flat stainless steel by 5,000 yen per tonne for distributors effective for April orders to reflect low nickel price at London Metal Exchange. Meanwhile, NSSC increases chrome series cold rolled flat stainless steel price by 2,000 yen per tonne along weaker yen exchange rate during February-March than January-February. The firm didn’t change the selling price of stainless plate.

The latest price is 285,000 yen per tonne for nickel series cold rolled flat stainless steel with 2.0 millimeters thick cut edge grade, the lowest level since the firm’s first price announcement in November 2004. The latest price for chrome series cold rolled flat stainless steel is 260,000 yen.

Averaged nickel price was US$ 4.93 per pound for January-February and US$ 4.56 for February-March. NSSC reflected lower nickel price and yen exchange rate on stainless steel product prices. Nickel price is currently surging and, that is, nickel series product prices could hit the bottom in April.

NSSC keeps plate price unchanged as a result that the firm reduces alloy price by 5,000 yen per tonne while raises base price by 5,000 yen per tonne. NSSC said orders from overseas users are increasing for solar batteries, high-vacuum chambers, silicon plants and atomic power plants after March and orders from domestic users are expected to recover for LNG plants soon. The demand is stable for shipbuilding and flood gate. The firm said domestic dealers’ sales were likely to hit the bottom in February.