- Nickel-series stainless steel prices cut by JPY 15,000/t
- Domestic demand remains uneven across end-use sectors
Nippon Steel has reduced prices for nickel-based stainless steel cold-rolled thin and medium/thick sheets by JPY 15,000/t ($97/t) for September contracts, while keeping prices for chromium-based cold-rolled sheets unchanged.
Nickel-series prices reduced
Under Nippon Steel’s unique alloy-linked pricing mechanism, nickel-series stainless steel prices fluctuate according to changes in key raw material indicators, including nickel, chromium and foreign exchange rates.
For September contracts, the company reduced prices of nickel-based cold-rolled thin sheets and medium/thick sheets by JPY 15,000/t. This marks the second consecutive monthly reduction for nickel-series products.
However, despite the latest reductions, prices remain substantially above levels recorded in August 2025. Since then, nickel-series prices have increased by around JPY 80,000/t ($521/t) , while chromium-based products have risen by approximately JPY 45,000/t ($293/t).
Domestic demand remains mixed
Domestic stainless steel demand in Japan remains uneven across sectors. However, demand for thin sheets has shown signs of recovery across a broad range of applications.
Industrial machinery, particularly equipment associated with semiconductor manufacturing, has supported demand. Recovery in residential equipment and commercial kitchen applications has also contributed to improved consumption.
Market inventories of thin sheets remain at appropriate levels, limiting pressure for significant inventory adjustments.
Medium and thick sheets remain supported
Demand for medium and thick stainless steel sheets remains relatively strong in shipbuilding-related sectors.
Growing investment in semiconductor manufacturing equipment and data-centre-related facilities is also providing additional support to demand for stainless steel products.
Outlook
While domestic demand remains mixed, the recovery across semiconductor-related equipment, residential equipment and commercial kitchens provides some support to the stainless steel sheet market. Meanwhile, continued strength in shipbuilding and data-centre investment is expected to support medium and thick sheet demand.
Despite the latest nickel-series price reduction, cumulative price increases remain significant, suggesting that suppliers may continue to seek higher selling prices to offset elevated procurement costs.
Note: This article is published as part of a content exchange agreement between JapanMetalDaily and BigMint.
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