Nippon Steel Stainless Co., Ltd. announced on October 9 that it will increase the domestic contract prices of nickel-based stainless steel cold-rolled sheets and medium-thick plates such as SUS304 signed in November 2022 by 5,000 JPY/ton, and SUS430 and other chromium-based stainless steel cold-rolled sheets. The domestic contract price is lowered by 5,000 JPY/ton, and it is only reflected in the alloy surcharge, and the base price remains unchanged.
This is the increase in the price of its nickel-based products for 2 consecutive months after falling for 3 consecutive months, and the downward adjustment of the price of chromium-based products after the price of chrome-based products remained unchanged for 2 consecutive months.
During September-October 2022, the average international nickel price dropped slightly from $10.14/lb in the previous period (August-September 2022) to $10.12/lb. The iron contract price fell by 31 cents/lb chrome to 172.50 cents/lb chrome, but the yen continued to depreciate, rising to 146.14 against the US dollar from 140.17 in the previous period (13 consecutive rises), making the import cost of nickel somewhat lower. increased, while the import cost of ferrochromium has fallen.