NSSC to Hike 10,000 yen/t for Ni Stainless, 4,000 yen for Cr Stainless

Nippon Steel & Sumikin Stainless Steel (NSSC) announced on Monday the firm increases the selling price by 10,000 yen per tonne for nickel series stainless plate and cold rolled sheet for domestic distributors for March order, which represents first increase in 4 months. The firm increases the chrome series cold rolled sheet by 4,000 yen. The firm tries to cover higher cost for nickel and chrome. The new price is 490,000 yen per tonne for nickel series cold rolled cut edge coil with less than 2.0 millimeters thick and 273,000 yen for chrome series cold rolled sheet. The firm increases only the alloy linked price for nickel series products to cover higher nickel cost, when nickel ingot price increased to averaged US$ 12.62 per pound in January-February compared with US$ 12.18 in December and January. NSSC sees domestic distributors’ market improves for nickel series cold rolled sheet with lower inventory while the demand is still slow. The firm said the offshore market is better than Japan and European market completed the inventory adjustment and the market price increases with better demand. The firm said Japanese stainless plate demand is firm for liquid crystal panel television and vacuum chamber. With better demand, NSSC sees plate shearing processors’ sales volume improves and distributors’ inventory decreases to normal level in April. The firm also increases the alloy linked price for chrome series products when the ferrochrome purchase price increases by 21 US cents per pound for January-March from October-December. The firm left the base price unchanged despite of the tight supply mainly due to strong demand for automobile.