Nippon Steel Stainless Steel (NSSC), the largest stainless steel manufacturer in Japan, lifted prices on both 300-series and 400-series medium-heavy plates, as well as stainless steel cold rolled plates, in March.
The company cited a JPY 5,000/t ($33/t) increase for 300 series heavy plate and cold rolled steel, attributing it to higher costs for alloy charging due to increased LME nickel prices and currency exchange impacts. Additionally, a base price increase of JPY 15,000/t ($101/t) was applied, bringing the total adjustment to JPY 20,000/t ($135/t), marking NSSC’s first base price adjustment in nine months.
The company pointed to rising prices of primary and secondary raw materials and initiated the base price hike to accommodate structural cost increases such as equipment, labor, and logistics. Moreover, the base unit price for 400 series stainless steel saw an increase, resulting in a total price rise of JPY 15,000/t ($101/t).
The domestic stainless steel market in Japan is showing signs of recovery, particularly in sectors like automobiles and semiconductors, with the cold rolling mill operating at around 70% capacity and expected to increase further in the second quarter.
However, concerns over an influx of low-priced imported cold rolled products potentially harming the domestic industry have led to discussions about trade regulations or lodging a complaint with the WTO.
Note: This article has been published in accordance with an article exchange agreement between Japan Metal Daily and BigMint.
