NSSC to Reject Ni Stainless Cold Sheet Order Receipt from Dealers

Nippon Steel & Sumikin Stainless Corporation announced on Thursday the firm refuses nickel series cold rolled stainless flat steel order receipt from dealers for September order basically. NSSC refuses order receipt for dealers 2 months in a row while the firm accepts limited order depending on the immediate need. The firm tries to improve the supply balance to meet slower demand condition. NSSC also announced the firm reduces the selling price by 15,000 yen to 455,000 yen per tonne for nickel series cold rolled strip with 2.0 millimeters or less thick and to 465,000 yen for product with more than 2 mm. The firm reduces the nickel series plate price by 15,000 yen. The firm increases the selling price of chrome series stainless cold rolled flat steel by 4,000 yen per tonne. The firm reflects higher ferrochrome price, which increased by 6.5% to US$ 2.13 per pound for July-September from April-June. The price increases to 325,000 yen for cut edge coil. The price increases by total 80,000 yen through hikes for 8 months in a row.