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Nippon Steel raises contract prices for nickel-based stainless steel sheets in October 2022

Nippon Steel Stainless Steel Co., Ltd. announced on October 6 to adjust the domestic contract price of stainless steel sheets signed in October 2022: SUS304 and other nickel-based stainless steel cold

rolled sheets and medium and heavy plates increased by 15,000 JPY/ton from the previous month, of which the base price remained unchanged. No change, only the alloy surcharge is increased; SUS430 and

other chromium series stainless steel cold-rolled sheets continue to remain unchanged, among which the base price and alloy surcharge remain unchanged.

During August-September 2022, the cost of imported stainless steel raw materials nickel and chromium has risen. During the period, the average international nickel price stopped falling and rebounded, rising

from $9.86/lb in the previous period (July-August 2022) to $10.14/lb; the average contract price of ferrochrome remained at 188 cents/lb of chromium; the yen continued to depreciate, the exchange rate

against the US dollar rose to 140.17 from 137.02 in the previous period, reaching 12 consecutive rises.

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