NSSC Raises Ni and Cr Series Stainless Sheet Price by 5,000 Yen/t in May

Nippon Steel & Sumikin Stainless Steel Corporation (NSSC) announced on Monday the firm raises the selling price of cold rolled stainless steel sheet and plate by 5,000 yen per tonne for domestic dealers for May shipment. NSSC’s selling price would be 400,000 yen per tonne for nickel series cold rolled sheet with 2-millimeter thickness and 280,000 yen per tonne for chrome series. This is the first price hike for nickel series cold rolled sheet in 2 months while NSSC raises the selling price of chrome series cold rolled sheet for 2 months in a row.

NSSC raises the selling price for all items of cold rolled sheet since average chrome price rises by 10 US cents to 143 US cents per pound for April-June compared with the previous quarter. Average nickel price was US$ 11.94 per pound in April, which became below US$ 12 while decreased only by US$ 0.22. NSSC will keep the base price of cold rolled sheet unchanged for June shipment.

NSSC explained domestic demand for stainless steel sheet maintains stable. The demand is increasing for restorations and reconstructions in the areas damaged by Japan Earthquake, mainly for temporary houses. Some of the users are increasing stainless sheet consumption before electricity supply regulation scheduled in summer. Meanwhile, the demand is declining from automobile industry.

As for stainless steel plate, large lot order receipts are expected for desalination plants and thermal power plants in Middle East. NSSC’s Yawata works continues full operation. The domestic demand is also strong for vacuum chambers and electric power plants.