It is reported that Nippon Steel & Sumikin Stainless, the largest stainless steel producer in Japan, announced to cut the contract prices for 300 grade stainless sheets and medium heavy plates by JPY 10,000 per tonne for August 2012, in response to weak nickel prices, in spite of rising demand.

Meanwhile, NSSC remained its August 2012 contract prices of 400 grade stainless sheets unchanged even though its purchasing contract prices for South African chrome dropped by USD 0.1 per pound.

NSSC predicted that its inventories of stainless steel products would remain at high level, despite of price cut for August 2012 and higher demand.

Source - www.yieh.com)

(www.steelguru.com)