Nippon Steel & Sumikin Stainless Steel Corporation announced on Wednesday the firm increases the selling price of nickel series stainless steel cold rolled sheet and plate by 10,000 yen per tonne for dealers in January from December. The firm reflects higher nickel price at London Metal Exchange. The selling price of nickel series cold rolled sheet increases to 370,000 yen. The firm left the price unchanged for chrome series cold rolled sheet.
NSSC increases the nickel series cold rolled sheet price for the first time in 3 months when the averaged LME nickel price increased by US$ 0.55 to US$ 10.94 per pound in December from November. NSSC sees stainless steel sheet domestic shipment stays firm and could increase when the housing starts turned upward. NSSC also expects offshore demand improves mainly in East Asia when major offshore rivals also announced price hike due to higher nickel cost. NSSC’s nickel series plate demand is steady for export. The firm operates duplex making facilities at full capacity. The firm expects the demand increases for pump and water treatment plant.Japan Steel Scrap Composite Prices (Sangyo Press)
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