NSSC to Reduce Ni Stainless Flat Steels Price in April

Nippon Steel & Sumikin Stainless Steel Corporation announced on Wednesday the firm reduces selling price of nickel series cold rolled stainless steel sheet by 5,000 yen to 395,000 yen per tonne for dealers for April shipment from March. The firm increases selling price by 20,000 yen to 275,000 yen for the chrome series cold rolled sheet. The firm reflects nickel price decline at London Metal Exchange in March to the nickel series selling price while the firm passes higher steelmaking material cost to the chrome series price. The firm reduces nickel series stainless plate selling price by 15,000 yen for April order.

NSSC reduces net selling price of nickel series cold rolled stainless sheet by 5,000 yen per tonne for April shipment when the firm increases the base price by 10,000 yen and reduces the alloy charge by 15,000 yen.

NSSC announced in March the firm had a plan to increase base price of chrome series cold rolled sheet for April. The firm increases the base price by 20,000 yen for April shipment while the firm leaves the alloy charge unchanged.

Average LME nickel price decreased by US$ 0.63 to US$ 12.16 per pound in March from February. Telegraphic transfer selling rate was 82.81 yen per US dollar in March against 83.54 yen in February. Chrome price was 133 US cents per pound in March as February.

NSSC’s stainless plate export was the historical high level in March. The firm tries to get duplex order for major projects of desalination plants in Middle East in coming negotiation in May.