Nisshin Steel announced on Thursday the firm expands the output reduction of nickel series stainless cold rolled flat steel to more than 40% at Shunan plant in November from original plan while the operation reduced the output by 30% before. The firm tries to improve the supply balance when the users’ activity decreases along with the buyers’ holding stance for new order with expectation for lower price. The stainless steel making operation should decrease from current 10% cut.
The firm rejects the new order receipt for nickel series stainless cold rolled flat steel from distributors for November order as July-October. The firm tries to improve the supply balance when the dealers’ shipment keeps low level while the dealers’ inventory decreased in October. The firm’s order receipt from contract users also decreases by around 30% from normal level. Lower nickel ingot price also impacts on the users’ sentiment. The users try to minimize the purchase volume when they expect the nickel series stainless steel price to reflect nickel ingot. Japanese largest stainless steel maker, Nippon Steel & Sumikin Stainless Steel (NSSC) also reduces the stainless steel making operation by 50% from the capacity at Hikari plant from November. Japanese stainless majors expand the output reduction when worldwide stainless demand decreases under slower economy.Japan Steel Scrap Composite Prices (Sangyo Press)
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