- Robust demand in Korea’s kitchen appliance sector
- Construction, semiconductor sectors show sluggish activity
Nippon Steel Stainless Steel (NSSC) has frozen all stainless steel plate prices for September contracts, citing stable raw material costs, including nickel and chromium, and minimal exchange rate fluctuations. Despite rising ferro chrome prices, prior price adjustments for August limited further increases. The company’s 400-series and 300-series cold-rolled steel prices remain unchanged amid steady demand in Korea’s commercial kitchen appliance sector, though construction and semiconductor sectors lag.
Despite production adjustments, high imports of cold-rolled steel exceed 2024 averages, disrupting domestic supply-demand balance. Inventory for 300-series cold-rolled sheets in July stood at 2.59 months, above optimal levels. Nippon Steel urges faster government action on anti-dumping investigations of imports from China and Taiwan to help stabilize the market. The company’s plate mills operate at over 80% capacity, expecting strong demand from shipbuilding and new energy sectors like LNG and hydrogen.
Note: This article has been published in accordance with a content exchange agreement between SteelDaily and BigMint.
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