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

Nippon Steel & Sumikin Stainless Steel announced on Monday the firm increases the alloy linked price by 5,000 yen per tonne for nickel series stainless cold rolled sheet and plate for domestic distributors in March. The firm increased the alloy linked price for 3 months in a row. The cold rolled sheet price increases to 315,000 yen including the unchanged base price. The firm reflects higher nickel price in January-February to the selling price for March order. The nickel price increased by US$ 0.35 to averaged US$ 6.70 per pound at London Metal Exchange in January-February from December-January. The nickel price keeps the high-level when the price was US$ 6.65 on Friday. The firm tries to secure the profitability by passing the higher cost price on the domestic selling price for the first half year to September. The firm also keeps limiting the output in line with the demand in and after April after the 25% output reduction from the output capacity at the operations including Hikari plant. The firm said the export order for stainless plate surges when the demand is firm for seawater desalination plant in Middle East and liquid natural gas facilities in China. The firm also said the domestic demand is firm for vacuum chamber for liquid crystal panel and indirect export applications including plants.