- 300-series cold-rolled prices up by JPY 5,000/t
- Price hike driven by Alloy Link cost adjustment system
SteelDaily: Nippon Steel has announced a price increase for its stainless steel products in October contracts. Prices for 300-series cold-rolled steel and thick plates have been raised by JPY 5,000/t ($33/t), marking the first increase for 300-series cold-rolled steel in two months since August. However, prices for 400-series cold-rolled steel remain unchanged for the second consecutive month due to stable alloy costs.
This price adjustment is driven by Nippon Steel’s proprietary Alloy Link system, which automatically reflects changes in alloy costs such as nickel and chromium, as well as exchange rate fluctuations. The recent increase in nickel prices has added JPY 5,000 ($33) to the alloy cost, prompting the overall price rise.
Furthermore, extra prices for molybdenum-containing steel grades will also see an increase starting with October contracts. For key steel grades like SUS316 and 316L, the price hike is set at JPY 30,000/t ($198/t). Molybdenum prices have remained high since July, due to supply constraints from production facility issues at some producers. This marks the first additional price increment for molybdenum-based steel in nearly two years, with the last being in January 2024.
Despite a temporary dip in imported cold-rolled steel volumes in August, Nippon Steel indicates that high levels of imports continue, providing a steady supply balance. The company is closely monitoring market conditions while adjusting prices in line with raw material costs and global market dynamics.
Note: This article has been published in accordance with a content exchange agreement between SteelDaily and BigMint.
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