NSSC Reduces Ni Series Cold Rolled Stainless by 5,000 Yen/t

Nippon Steel & Sumikin Stainless Steel Corporation (NSSC) announced on Monday the firm reduces the selling price for nickel series cold rolled stainless flat steel by 5,000 yen per tonne for domestic distributors effective for December orders. NSSC reflects lower material cost and higher yen exchange rate on the product price. The firm reduces the price for the first time since April 2009. Meanwhile, the firm set the selling price of stainless plate unchanged with an expectation for full production in January-March due to scheduled refinement of the plate mill.

As to chrome series cold rolled sheet, NSSC raises the selling price by 2,000 yen per tonne for December orders. Chrome price surged by 14% for October-December from July-September.

NSSC’s selling price of cold rolled cut edge coil becomes 355,000 yen per tonne for nickel series and 252,000 yen per tonne for chrome series.

Nickel price at London Metal Exchange decreased by US$ 0.11 to US$ 8.06 per pound at an average for October-November compared with September-October. Yen exchange rate rose by 1.16 yen to 90.79 yen per US dollar at an average for October-November from September-October.

NSSC said stainless coil inventory decreased and stainless makers keep high production rate in China while Japanese domestic demand maintains inactive. NSSC keeps cautious supply.

NSSC completes output capacity expansion of duplex stainless sheet in summer 2010 and carries out scheduled refinement in mid February 2010. Consequently, NSSC’s production capacity temporarily lowers by 20-30% for January-March compared with the ususal level. However, the firm expects to continue full production for January-March with long-term orders for shipbuilding.