Nippon Steel & Sumikin Stainless Steel Corporation (NSSC) announced on Wednesday the firm left its shipment price of nickel series cold rolled stainless steel sheet and the contract price of stainless steel plate unchanged for August sales to domestic wholesalers. Meanwhile, NSSC revised down its shipment price of chrome series chrome series cold rolled stainless steel sheet by 5,000 yen per tonne, Chrome series price decreases for 2 months in a row.
Nickel price increased in July but the upsurge was canceled by strong yen trend and lower chrome price. NSSC’s sales price of cut edge coil becomes 365,000 yen per tonne for nickel series products with below 2 millimeters of thickness and 270,000 yen for chrome series products. Yen exchange rate strengthened by 1.05 yen to 80.51 yen per US dollar averagely in July from the previous month. Chrome price is 128 US cents per pound for July-September, lower by 10.5% than in the previous quarter. Nickel average price increased by US$ 0.62 to US$ 10.76 per pound in July from June. However, the firm didn’t change the price of nickel series products by the alloy-link price system reflecting high yen rate and lower chrome price. Mr. Mitsuru Sawada, NSSC’s sheet sales department manager, said market inventory is increasing for nickel series cold rolled stainless sheet but expected to decrease by degree when NSSC has adjusted the order receipt volume for shipment in and after July. The domestic inventory ratio was over 2 months against shipment at the end of June, according to Japan stainless coil center association. Mr. Sawada said the inventory ratio could down to 1.9 months if the sales level improves. As for chrome series products, Mr. Sawada said the supply and demand balance may tighten when automobile output is rapidly recovering and the demand is increasing by more than 30% year-on-year from home electronics and gas-and-oil appliances. Meanwhile, NSSC’s Yahata works is keeping full operation since market demand for stainless steel plate is steady, especially increasing from overseas LNG and seawater desalination projects.Japan Steel Scrap Composite Prices (Sangyo Press)
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