NSSC to Hike Stainless Cold Rolled, Plate by 5,000 yen/t

Nippon Steel & Sumikin Stainless Steel (NSSC) announced on Monday the firm increases the selling price by 5,000 yen per tonne for nickel series stainless cold rolled flat steel and plate and chrome series cold rolled flat steel for March order. The firm increases the alloy price of nickel series products to reflect higher raw materials cost while the firm increases the base price of chrome series product under higher offshore demand, which is the first base price increase for chrome series product since August 2008.

The new price is 365,000 yen per tonne for nickel series cold rolled cut edge coil with 2 millimeters or less thickness and 267,000 yen for chrome series cold rolled flat steel.

The firm increases the base price of chrome series cold rolled flat steel to 262,000 yen per tonne when automobile demand increases in China and East Asian countries and chrome series cold rolled flat steel market price increases in offshore market while raw materials cost is expected to increase for iron ore, coking coal and other subsidiary materials.

The firm tries to increase the chrome series cold rolled flat steel for contract users. The firm eyes additional hike for the products depending on the raw materials cost in and after April.