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JFE Steel to raise stainless prices

30 Apr 2007 17:50 reported by Winnie Quant

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To offset rising production costs on account of rising nickel price, Japan's JFE Steel is implementing in May another price hike of at least ¥20,000/ton to both 300 & 400 series CR coil and plate, with nickel alloy surcharges raised as well according to grade.

In February, JFE effected only ¥15,000/ton for March contracts, with its extra alloy charges unchanged.

JFE emphasized next month's steep hike of ¥20,000/ton was attributed not only by nickel shocking highs but only chrome costs dramatically rising.

In Asia, Taiwan's Yusco hiked US$300~350/mt, when Chinese mills raised by 6 percent to next month's new opening price.

This fifth month hike in a roll since this January will simply be forcing global customers, especially from Europe on the sidelines or just to buy only small quantity as needed.

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