Daido Steel will increase the selling price of stainless steel bar by around 20% for SUS304 grade and by around 10% for SUS403 for May order or June shipment. The firm tries to cover higher cost for nickel, ferrochrome and stainless scrap along with unfavorable yen rate through the hike. The firm also revises the extra charge for special alloy grades depending on nickel content.Nickel ingot price was record level of average US$ 22.8 per pound in April as of April 26 at London Metal Exchange compared with US$ 21.01 in March. Ferrochrome price is record 90 US cents per pound. The demand is firm for industrial machinery and semiconductor industry. The firm said it has no choice but to pass the higher cost on selling price though the firm concerns the extra higher stainless price could reduce the demand. The firm tries to meet the market move when some major users try to shift to chrome series stainless from higher priced nickel series stainless.
Japan Steel Scrap Composite Prices (Sangyo Press)02/20/2020
|20200YEN (-)||22200YEN (-)|
|179.91US$ (-2.17)||197.72US$ (-2.39)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)