NSSC Increases Ni Stainless Sheet, Plate by 10,000 yen

Nippon Steel & Sumikin Stainless Steel Corporation announced on Thursday the firm increases the domestic selling price of nickel series cold rolled stainless steel sheet and plate by 10,000 yen for distributors for the shipment in September. The price increases for the first time since the firm revised the pricing system in May. The price increases to 350,000 yen for sheet with 2 millimeters thick. NSSC also announced the firm decided to leave the nickel series selling price unchanged for October shipment.

The monthly averaged nickel price at London Metal Exchange increased by US$ 0.86 to US$ 9.71 per pound in August from July while yen exchange rate increased by 2.25 yen to 86.50 yen against US dollar.

Nickel series cold rolled sheet price is increasing at overseas. The price increased by US$ 150-200 per tonne in Asia due to nickel price increase since late July, according to NSSC. The inventory is decreasing.

On the other hand, the domestic distributors’ shipment remains low. The firm keeps the production of Hikari works at 70% of the capacity as August.