NSSC Cuts Ni Series Plate, Cold Rolled Price by 15,000 yen/t

Nippon Steel & Sumikin Stainless Steel (NSSC) announced on Monday the firm decreases the selling price of nickel series stainless plate and cold rolled flat steel by 15,000 yen per tonne for domestic distributors for July order and shipment to reflect lower averaged nickel price. The firm reduces the chrome series cold rolled flat steel by 5,000 yen due to higher yen rate.

The new price is 365,000 yen per tonne for nickel series cold rolled flat steel with 2 millimeters or less thick and 275,000 yen for chrome series cold rolled flat steel. The nickel series flat steel price decreases for 2 months in a row. The firm couldn’t increase the base price of plate products while the firm indicated the price hike as of June.

The firm reduced the nickel series products price based on the alloy linked price mechanism when the nickel price decreased by US$ 0.84 to US$ 10.14 per pound in June from May while the yen rate increased by 0.57 yen to 81.56 yen per US dollar.

The firm reduces the order receipt for nickel series cold rolled flat steel for July shipment when the inventory increases at the distributors due to slower shipment. The firm expects inventory adjustment progresses for automobile and other contract users when the firm already adjusted the order receipt. The firm expects the chrome series cold rolled flat steel supply gets tight when domestic automakers resume the full capacity operation in and after October.

The firm sees the stainless plate demand is strong mainly for dual phase products when major seawater desalination plant projects start the procurement in Middle East in July-September. The firm expects the domestic supply gets tight when the plate processors’ daily shipment is relative firm in May as April. The firm expects strong demand continues for the plate using industries.