NSSC Slightly Raises Ni and Cr Series Stainless Sheet Prices

Nippon Steel & Sumikin Stainless Steel Corporation (NSSC) announced on Monday the firm increases base prices of nickel series stainless steel plate and cold rolled stainless steel sheet by 5,000 yen per tonne for distributors for November orders to reflect supply tightness in the market. This is the first hike of these base prices since April 2008.

On the other hand, the firm decreases alloy link charge for these products by 5,000 yen per tonne due to lowering nickel price and rising yen exchange rate. Eventually, cold rolled stainless cut edge coil price keeps flat at 360,000 yen per tonne for November orders compared with October.

At the same time, NSSC raises chrome series cold rolled stainless steel sheet price by 2,000 yen to 250,000 yen per tonne for November orders to reflect high ferrochrome price.

Domestic inventory rate of nickel series cold rolled sheet is at the lowest level of 1.39 months against shipment. The users recently tend to request shorter delivery time. Domestic stainless plate inventory is also at the lowest level when overseas users are increasing the orders for a few months. However, domestic demand keeps stagnant mainly from building materials. The market price has slightly risen from the beginning of this year.

NSSC continues cautious order acceptance under the unforeseeable business circumstance.