Nippon Steel Stainless Steel Corporation (NSSC) announced on May 8 that its domestic contract price of SUS304 and other nickel stainless steel cold-rolled sheets, medium and heavy sheets and SUS430 chromium stainless steel cold-rolled sheets for domestic sales in May 2019 would be increased by 5000 yen/ton. The price increase is reflected in the surcharge of the fund, and the base price remains unchanged. This is also its nickel stainless steel prices increased for three consecutive months.
In March-April 2019, the average international nickel price continued to rise from $5.83 per pound in the previous period (February-March 2019) to $5.87 per pound, while the average contract price of ferrochromium rose from 120 cents per pound of chromium to 124 cents per pound of chromium due to the price increase in the second quarter, and the yen continued to depreciate. The exchange rate against the dollar rose from 111.81 to 112.49 in the previous period, so the import cost of stainless steel alloy raw materials such as nickel and chromium increased. It continues to rise.