Nippon Steel & Sumikin Stainless Steel announced on Monday the firm increases the selling price of nickel series stainless cold rolled steel by 50,000 yen per tonne for domestic distributors for May order to cover higher nickel ingot cost. The firm increases the price for 17 months in a row. The price reaches 710,000 yen per tonne for sheet with 2.0 millimeter thick or less and 720,000 yen for sheet with more than 2 mm thick. The firm also increases the plate price by 50,000 yen. The firm said the nickel ingot price was averaged US$ 21.91 per pound in March and April compared with US$ 19.85 for previous hike. The ingot price hit another record of US$ 24.27 per pound at London Metal Exchange on Friday. The firm sees the domestic distributors’ market of nickel series stainless products is slow despite of firm actual demand. The firm keeps low level shipment for distributors to secure materials for contract users. The plate demand is firm for energy and shipbuilding industry at home and abroad. The firm left the chrome series stainless cold rolled steel price unchanged. However, the firm keeps studying for another hike when the quarterly ferrochrome purchase price hit record 90 US cents per pound of purity.
Japan Steel Scrap Composite Prices (Sangyo Press)09/18/2020
|26600YEN (-)||28600YEN (-)|
|251.32US$ (0.54)||270.22US$ (0.59)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)