NSSC Cuts Ni Stainless Cold Flat Shipment for Distributors

Nippon Steel & Sumikin Stainless Steel (NSSC) announced on Wednesday the firm rejects the order of nickel series stainless cold rolled flat steel from the distributors for August order. The firm tries to improve the supply balance under slow domestic demand. The firm reduces the selling price of nickel series stainless plate by 20,000 yen per tonne to reflect lower nickel ingot price while the firm increases the selling price of chrome series stainless cold rolled flat steel by 9,000 yen. The firm sees the domestic buyers wait decrease of nickel series stainless price under decreasing nickel ingot price. The firm expects the plate demand could keep strong when the firm gets firm order from offshore buyers and domestic manufacturers. The firm increases chrome series stainless cold rolled flat steel by 4,000 yen per tonne for alloy linked price and by 5,000 yen for base price. The price increases to 321,000 yen per tonne after total 76,000 yen hike including 35,000 yen of base price hike. The firm is also getting around 80,000 yen per tonne hike from contract users at the quarterly and half year shipment.