JFE Steel Increases Flat Rolled Stainless Steel by 25,000/t

JFE Steel announced on Tuesday the firm increases selling price of flat rolled stainless steel by 25,000 yen per tonne for domestic buyers for March order. The firm increases base price of chrome series stainless steel sheet and nickel and chrome series stainless steel plate. The firm tries to pass higher iron making material cost to the selling price through the first base price hike since June 2010 order.

JFE Steel’s chrome series stainless output reaches around 90% of the level before Lehman shock thanks to recovering demand for automobile. The output keeps the high level even after Japanese government terminated the subsidy for eco-friendly car purchase in last autumn.

However, JFE Steel sees chrome series stainless steel demand was lower for construction than expected in January-March but the demand would recover. The firm expects export is less attractive due to yen appreciation while the demand is strong mainly in Southeast Asia.

JFE Steel got Japanese Industrial Standards for its high purity chrome series stainless steel, JFE 443CT last summer. The firm expects 443CT is used as construction materials while SUS 304 price is increasing.