September 07, 2008

NSSC launches new SS surcharge based on chrome price

Japanese Nippon Steel & Sumikin Stainless Steel is set to implement a new chrome base surcharge for stainless steel on the ground of recent surging chrome prices.

Currently in Asia, only Japan is the sole country where Japanese mills set up their monthly prices on the basis of base price to reflect the supply and demand market and surcharges according to nickel and chrome prices as monthly averaged.

South Korea POSCO also intends to follow suit, while some Asian mills are now seriously contemplating the feasibility to work on a surcharge based system in pricing.