Nippon Steel raised prices of nickel-based stainless-steel plates in October for SUS304 and other nickel-based stainless-steel cold-rolled sheet and medium plate on October by JPY5,000/mt ($47.45/mt) which will be reflected in alloy surcharges.
The prices of cold-rolled sheet of chromium stainless steel remains unchanged including the base price and surcharges. Prices of nickel products are up for the third consecutive month and the price of chromium products have remained unchanged for the fourth consecutive month.
The company’s nickel-based product prices are up byJPY25,000/mt since June while chromium-based products have increased by JPY5,000/mt in the same period.
Average global prices of nickel have been rising since July and is around $6.66/lb while the contract for ferrochrome continued to remain unchanged at around $122c/lb.