Japan’s NSSC lifts Aug austenitic CRC, plate prices by $47
Aug 06, 2020 15:00
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Nippon Steel Stainless Steel Corp (NSSC), Japan’s largest stainless producer, has lifted domestic prices of 300 series cold-rolled coils and plate for August sales by Yen 5,000/tonne ($47/t) to distributors, the company confirmed on August 6. The steelmaker is probably hoping that announcing a rise will provide support to market prices to ensure they don’t decline but distributors are unhappy, saying they are already struggling to transfer the producers’ previous hikes along to end-users.
The rise for 300 series CRC and plates is to
reflect higher nickel prices in product prices, a NSSC official said, adding
that the company would keep prices of its 400 series CRC unchanged since ferro-chrome
contract prices haven’t changed.
For Japanese stainless makers, the average LME nickel
price for June-July increased by $0.28/lb