NSSC Hikes Cr Stainless Cold Sheet by 24,000 yen/t

Nippon Steel & Sumikin Stainless Steel announced on Tuesday the firm decreases the selling price of nickel series stainless cold rolled sheet and plate by 5,000 yen per tonne for February order. The new price is 480,000 yen per tonne for cold rolled steel with 2 millimeters thick and 490,000 yen for products with more than 2 mm. The firm increases the chrome series cold rolled flat steel by 24,000 yen to 269,000 yen per tonne. The firm increases the base price of nickel series products by 10,000 yen per tonne, which is the first hike in 16 months, while the firm reduces the alloy linked price by 15,000 yen per tonne to reflect lower nickel ingot price. The firm increases the base by 20,000 yen per tonne for chrome series products to cover higher cost for raw materials and freight and increases the alloy linked price by 4,000 yen per tonne with the alloy linked mechanism, which started in January order to reflect chrome price change.