Nippon Steel & Sumikin Stainless (NSSC), the largest stainless producer in Japan announced to remain the domestic 'miseuri' or spot sales prices for stainless cold rolled coils (CRC) and plates unchanged for July contract.
It's learned that NSSC decided to cut alloy surcharge for austenitic products by ￥10,000/ton for July in order to reflect lower nickel prices and appreciated Japanese Yen. However, the company increased prices by ￥10,000/ton due to higher other costs such as fuel and paper, making its prices unchanged for July.
The average nickel prices fell by US$0.31/lb. from May to US$6.47/ton. However, the Japanese Yen weakened by ￥3.66 to ￥98.44 against US$1.
Meanwhile, NSSC kept its prices for ferritic products flat for July since ferrochrome prices remained unchanged.