NSSC to Start Alloy Link Price for Cr Stainless Cold Sheet

Nippon Steel & Sumikin Stainless Steel (NSSC) announced on Thursday the firm starts new alloy link system for chrome series stainless cold rolled flat steel for distributors from January order as nickel series cold sheet. The firm tries to reflect price change of chrome and other alloys for transparency. The firm starts the system based on 245,000 yen per tonne of selling price including 227,000 yen of base price for product with 2 millimeters thick and 18,000 yen of alloy price. The firm announced on Thursday the firm reduces the selling price of nickel series stainless cold rolled flat steel by 35,000 yen to 485,000 yen per tonne for product with 2 mm or less thick for distributors for January order to reflect lower nickel ingot price. The price is the lowest level since September 2006. The firm will cut the order from distributors by around 70% from a year earlier for better supply balance. The firm said the base price for chrome series stainless is to reflect supply balance and basic cost including coal and iron ore while the alloy price is to reflect quarterly chrome price. The firm will decide the alloy price for February order based on averaged chrome price in December-January. The alloy price would increase in February and March order if the chrome price could increase from US$ 1.08 per pound for October-December to US$ 1.29 for January-March.