NSSC Raises Stainless Sheet and Plate by 15,000 Yen/t in July

Nippon Steel & Sumikin Stainless Steel (NSSC) announced on Monday the firm increases the selling price of nickel series stainless cold rolled sheet without edge and with 2 millimeters thick by 15,000 yen to 315,000 yen per tonne for domestic distributors effective for July orders. The firm also increases the selling price of nickel series stainless plate by 15,000 yen when nickel price is rising. NSSC increased the selling price for 3 consecutive months. Chrome series cold rolled stainless sheet price isn’t changed at 241,000 yen for July orders. Ni and Cr series products are expected to rise for August orders if nickel and ferrochrome prices keep rising.

Nickel price rose by US$ 0.86 to US$ 6.26 per pound for May-June from April-May. The firm calculated the selling price by alloy link price system in view of yen exchange rate, nickel and chrome prices. Nickel price hit the bottom at US$ 4.4 per pound in March and reached US$ 7.13 per pound at the present day. NSSC reflects alloy price on selling pricing of stainless products.

Overseas cold rolled stainless sheet market becomes active due to strong demand in China and anticipation of a rise of material price. Domestic dealers’ inventory adjustment is progressing. NSSC said the inventory level is lowering but the demand doesn’t recover for building materials and industrial machines. The demand for electric appliances is recovering and automobile output rate is increasing to 60-70%.

Plate export is firm for clean energy industry. Makers’ order receipts from overseas is coming close to the level of the first half of last year when was highest.