Sumitomo Metals Naoetsu announced on Monday the firm increases the selling price of stainless shaped steel, angle and channel by over 10% for the base size for all consumers in October order when nickel and chrome prices is rising. The firm raises stainless shaped products for 2 consecutive months.
The firm explained the profit is unavoidable to get worse when nickel and chrome price is rising. The firm increased the selling price by 15% in August order. The firm will raise the selling price if material price rises. Nickel price on London metal Exchange rose until August, but is weak tone at the present day. Average nickel price increased to US$ 8.08 per tonne by US$ 1.06 for July-August from June-July. Chrome price increased to 97 cents per tonne by 20 cents for July-August from June-July. The firm will pass material price on the selling price for stainless plate and sheet products by alloy surcharge system.Japan Steel Scrap Composite Prices (Sangyo Press)
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