NSSC Lowers Ni Series Stainless Sheet and Plate by 10,000 Yen/t in November

Nippon Steel & Sumikin Stainless Steel Corporation (NSSC) announced on Monday the firm lowers its selling price of nickel series cold rolled stainless sheet and plate by 10,000 yen per tonne for November contracts with domestic dealers. The revision reflected nickel price down at London Metal Exchange (LME). The firm reduced sales price of nickel series products for 3 consecutive months. The latest price became 335,000 yen per tonne for cut edge coil with below 2 millimeters of thickness. Meanwhile, NSSC left chrome series cold rolled stainless steel sheet price unchanged at 270,000 yen per tonne. The firm also reviewed extra alloy charges downward by 10,000 yen per tonne for SUS316 and by 20,000 yen for SUS316L effective for November contracts.

Monthly average of LME nickel price decreased by US$ 0.68 to US$ 8.57 per pound in October from September, the indicator for NSSC’s November selling price. Meanwhile, chrome price and yen rate didn’t change at 128 cents per pound and 77.75 yen per US dollar.

Mr. Mitsuru Sawada, NSSC’s stainless sheet business manager, explained demand for stainless steel sheet seems slightly improving since August and dealers’ sales volume of cold rolled stainless sheet was likely to represent higher in October than in September. As for chrome series, he described demand maintains favorable from car industry and represents year-to-year high currently. Supply and demand balance is also improving, he said.

Mr. Koji Kusunoki, NSSC’s stainless plate business manager, explained some users are holding off orders due to weak trend of raw material price while demand is expected to improve from high-vacuum chamber makers. Especially supply of chrome series stainless plate is presently tight thanks to recovery of automobile production and construction of electric power plants, he added.