JFE Steel to Raise Chrome Series Flat Stainless Steel for Dec

JFE Steel announced on Tuesday the firm raises the selling price for chrome series cold rolled stainless steel sheet and plate for domestic distributors by 15,000 yen for December contracts from the previous month. The firm increased chrome series products by 10,000 yen per tonne in September to put material price increase on the selling price under supply tightness. As to the hike for large contract users, the firm will negotiate with each user based on the current price conditions.The firm is advancing the expansion sales of chrome series products, JFE 443 CT, which put the target to produce at 6,000 tonnes per month in mid-term plan for fiscal 2006-2008, and which is producing it at over 2,000 tonnes per month in recently. Tatsuhiko Tasaka, stainless & special steel business manager of JFE Steel, said the order for JFE 443 CT increases by 2-3 times compared with the production, the firm is cutting the acceptance order by about 30% for distributors. The firm will revise up the production plan.The inventory to shipment rate of chrome series stainless steel sheet was 1.66 months in September, according to Japan Stainless Coil Center Association. The ratio was below the moderate level at 1.7 months.The demand for chrome series products is strong for mainly automobile and electric appliance. The export price of chrome series products increased to FOB US$ 1,500-1,600 in recent days, which is strong tone for mainly China. Because ferro-chrome price is high record at 80 US cent per pound for October-December, the firm raised the selling price of chrome series products.