JFE Steel to raise stainless prices
30 Apr 2007 17:50 reported by Winnie Quant
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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