- Nickel-based stainless prices rise by JPY 10,000/t
- Higher alloy costs continue to lift domestic pricing
Japan Metal Daily: Japan’s Nippon Steel has announced price increases for stainless steel plate store sales under May contracts, driven by higher alloy-linked raw material costs and firm domestic demand across key end-use sectors.
The company raised prices for nickel-based stainless cold-rolled sheets and thick plates by JPY 10,000/t ($63/t), while chrome-based cold-rolled sheets were increased by JPY 5,000/t ($31/t). Market participants noted that the adjustment reflects the company’s alloy-link pricing mechanism, which tracks movements in nickel, chromium, and foreign exchange rates.
With the latest revision, cumulative price increases since August 2025 have reached JPY 80,000/t ($505/t) for nickel-based stainless steel products and JPY 35,000/t ($220/t) for chrome-based grades.
Nippon Steel indicated that alloy surcharges are likely to remain elevated for June contracts as raw material indicators continue to strengthen. The company also stated that it is closely monitoring the impact of ongoing Middle East geopolitical tensions on energy and production costs, which may require further adjustments to selling prices.
On the demand side, domestic consumption of stainless steel thin plates remained firm, particularly from semiconductor manufacturing equipment and commercial kitchen applications. Market inventories were also reported to be moving toward balanced levels amid a gradual recovery in overall demand.
For thick and medium plates, demand from the infrastructure and shipbuilding sectors remained resilient, while recovery in semiconductor-related applications continued to improve market sentiment.
Factory operating rates were reported at slightly above 80% for thin plate production and around 80% for thick plate operations.
Outlook
Japan’s stainless steel market is expected to remain firm in the near term, supported by elevated alloy costs, improving domestic industrial demand, and ongoing supply-side cost pressures linked to global nickel and energy markets.
This article is published as part of a content-exchange agreement between Japan Metal Daily and BigMint.
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