Nippon Steel comprehensively lowered the contract price of stainless steel sheet prices in August 2022
Nippon Steel Stainless Steel Co., Ltd. announced on August 4 a price adjustment plan for the domestic stainless steel sheet contract signed in August 2022: SUS304 and other nickel-series stainless steel cold-rolled sheets and medium and heavy plates are reduced by 40,000 yen per ton, SUS430 and other chromium-series stainless steels Cold-rolled sheet is reduced by 5,000 yen per ton, of which the base price remains unchanged, and only the alloy surcharge is adjusted. This is the second consecutive month that it has lowered the price of nickel-based stainless steel sheets, and it is also the first time since April 2019 that it has lowered the price of chromium-based stainless steel sheets.
During June-July 2022, the cost of imported stainless steel raw materials nickel and chromium will decrease. During the period, the average international nickel price fell from US$12.20/lb in the previous period (May-June 2022) to US$10.73/lb, which was the third consecutive period of decline; at the same time, the average price of ferrochromium contract dropped from the previous 224 cents/lb chrome It fell to 206 cents/lb of chromium, reflecting that the contract price of ferrochromium with South Africa was lowered to 188 cents/lb of chromium in the third quarter; however, the exchange rate of the yen against the US dollar continued to rise from 132.37 in the previous period to 136.36, reaching 10 consecutive rises.