NSSC Increases Ni Stainless Sheet by 15,000 Yen/t

Nippon Steel & Sumikin Stainless Steel (NSSC) announced on Monday the firm increases the selling price of nickel series plate by 25,000 yen per tonne and cold rolled sheet by 15,000 yen per tonne effective for April orders. The hike reflects rising material costs for iron ore, coal and ferrous scrap. The firm has raised the selling prices for 3 months in a row. The selling price reaches 505,000 yen per tonne for nickel series cold sheet with more than 2 millimeters thick, which exceeds 500,000 yen for the first time in 4 months.The firm said market demand for cold rolled sheet is decreasing from building constructions under the influence of new Japanese building standard law and the demand would keep slow during the first half of fiscal 2008 started April. However, the firm pointed out, dealers’ sheet shipment seems improving when their inventories have decreased for 5 consecutive months.Demand for plate keeps strong from plants worldwide. NSSC is unable to accept all orders from the users such as high-vacuum chamber makers, beer tank makers or food makers. The firm said major dealers’ inventory keeps the moderate level and their sales volume is increasing.NSSC also raises the selling price of chrome series cold rolled steel sheet by 8,000 yen to 281,000 yen per tonne for dealers effective for April orders. The firm has raised the price for 3 consecutive months. Demand for chrome series products keeps steady from automobiles. The supply is becoming tight.Ferrochrome purchasing price increased by 55% to US 200 cents per pound for April-June shipment compared with January-March. The firm will reflect higher ferrochrome price on chrome series sheets after May orders. NSSC’s selling price is expected to rise by total 30,000 yen per tonne until June orders.