It's reported that Nippon Steel & Sumikin Stainless (NSSC), the largest stainless steel producer in Japan announced to hike its domestic prices for austenitic cold rolled coils (CRC) and plates by ￥15,000/ton for March contracts, due to higher raw material costs and depreciated Japanese Yen.
Also, NSSC lifted its domestic prices for ferritic CRC by ￥10,000/ton for March contracts.
It's known that the company increased its domestic prices for austenitic CRC by adjusting its alloy surcharges in order to reflect higher nickel prices and depreciated Yen.
In February, the nickel prices averaged at US$8.04/lb., rising by US$0.12/lb. from a month ago.
Meanwhile, NSSC hiked its base prices for ferritic CRC to reflect higher costs of raw materials including iron ore and coal.