NSSC Raises Cold Rolled Steel Sheet Price for November

Japanese biggest stainless steel maker, Nippon Steel & Sumikin Stainless Steel Corporation (NSSC) announced on Monday the firm raised the selling price for nickel series cold rolled stainless steel sheet for domestic distributors by 15,000 yen to 525,000 yen per tonne for November contracts from the previous month to reflect surge of nickel price.The firm sets the base price unchanged at 525,000 yen for nickel series cold rolled stainless steel sheet with below 2 millimeters thick, while increases by 10,000 yen to 535,000 yen for products with over 2 mm thick and below 6 mm thick. The firm also increases the selling price for middle thick stainless steel plate by 15,000 yen per tonne due to surge of nickel price, while keeps the selling price unchanged for chrome series cold rolled stainless steel sheet. The firm has raised the selling price of nickel series products for 11 months in a row.Hitoshi Ito, stainless steel sheet business manager of NSSC, said the firm raises the base price for flat stainless steel with over 2 mm thick when stainless steel plate supply is much tight thanks to active demand for productive equipment such as tank and machine. Stainless steel plate accounts for about 30% of NSSC’s total production.Japanese cold rolled stainless steel sheet market is entering demand season. The inventory to shipment rate of nickel series stainless steel sheet was 1.5 months in September, according to Japan Stainless Coil Center Association. The ratio kept 1.5-1.6 months for 2 months and became to below 1.7 months which is said as the moderate level.