NSSC Hikes Nickel Series Stainless Flat Price by 5,000 yen/t

Nippon Steel & Sumikin Stainless Steel announced on Thursday the firm increases the selling price by 5,000 yen per tonne for nickel series stainless steel plate and cold rolled sheet for domestic distributors in April under the alloy linked price mechanism when nickel price increased at London Metal Exchange. The price increases to 320,000 yen per tonne for cold rolled sheet including the base price after the hike for 4 months in a row. The firm leaves the price of chrome series stainless unchanged. The demand of nickel series stainless cold sheet is firm both for manufacturers and for customers of distributors. The distributors’ inventory is normal level at 1.83 months of shipment in February, according to the coil center association. The offshore market price also increases. The nickel price increased to US$ 7.88 per pound at LME on Tuesday from averaged US$ 6.78 in February and March. The firm would increase the selling price for contract users depending on the situation when nickel price surges and chrome price rebounded. The firm will keep the 25% output reduction compared with the full capacity at Hikari works.