
|  | 09/08/2004 |
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NSSC to Hike stainless steel sheet price by 10,000-20,000 yen
Nippon Steel & Sumikin Stainless Steel Corporation (NSSC) announced on Friday it would raise a price of stainless steel sheet (sheet and plate) for distributors from August contract. Range of the price increase is 20,000 yen per tonne for 300 series and 10,000 yen for 400 series. The price of 300 series is raised for two months in a row and 400 series is raised in the past four months. Rise price of material price including nickel and chrome will shift to sales price. Thin Materials coil for 300 series cold rolled sheet, hoop will be 310,000 yen per tonne.
NSSC decides the sales price of stainless steel sheet in response to movement of material and the balance of supply and demand.
The firm will shift average price of two months, the previous month and two months earlier, to the sales price for the current month contract because nickel price, main material of 300 series, moves sharply. As for August contract, the sales price refers to $6.48 of average price of nickel, $6.14 per pound of June and $6.82 of July. The price referred increases by some $1 compared with $5.60 for July contract. When nickel price rises by $1, the cost of 300 series including 8% of nickel increase by 20,000 yen per tonne.
Purchase price of ferrochrome in July-September, main material of 300 and 400 series, increased by 4 cents per pound from April-June to 78 cents. When ferrochrome price increases by 10 cents, cost of stainless including 18% of chrome rises by 5,000 yen per tonne. This increase of ferrochrome price doesn't raise stainless price. But as the firm hiked the price of 400 series by only 10,000 yen for April contract though a rise price of 20,000 yen was necessary, the firm decided to raise the price by 10,000 yen in this time.
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 | NSSC to Hike stainless steel sheet price by 10,000-20,000 yen
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