NSSC Hikes Cr Stainless Cold Sheet, Cuts Ni Stainless Flat Steel

Nippon Steel & Sumikin Stainless Steel announced on Wednesday the firm reduces the selling price of nickel series plate and cold rolled flat steel by 5,000 yen per tonne for distributors for June order. The firm increases the chrome series cold rolled flat steel price by 16,000 yen for June shipment to reflect higher ferrochrome price. The firm reflects lower nickel ingot price for nickel series products with the surcharge mechanism while it keeps the base price. The new price is 510,000 yen per tonne for cold rolled flat steel with 2.0 millimeters thick cut edge grade. The firm sees the domestic sheet demand shows sign to recover while the housing demand is still slower. The firm keeps around 30% reduction for nickel series cold rolling operation at Hikari plant. The firm tries to pass higher ferrochrome cost through the hike for chrome series cold rolled flat steel when ferrochrome price increased by 55% to US$ 2 per pound for April-June shipment from January-March. The price increases to 310,000 yen per tonne through hikes for 5 months in a row.