Nippon Steel & Sumikin Stainless (NSSC), the largest stainless producer in Japan announced to hike the domestic prices for austenitic and ferritic grades by ￥20,000/ton and ￥10,000/ton respectively for October contracts.
NSSC decided to increase its alloy surcharge for austenitic CRC by ￥10,000/ton to reflect higher nickel prices.
In September, the average nickel prices surged by US$0.71/lb. from a month earlier.
Meanwhile, NSSC remained its alloy surcharge for ferritics CRC unchanged for October.
However, NSSC said that it will rise the base prices for the austenitic and ferritic grades by ￥10,000/ton for October to reflect higher energy and other material costs.