Japan: JFE Steel announces price adjustments for stainless steel products

Starting March, JFE Steel plans to increase the base prices of stainless steel sheets and thick plates in the domestic market by JPY 10,000/t ($66/t), irrespective of whether they are sold in stores.

Rising costs across the supply chain, including raw materials, labor, and logistics, necessitate this adjustment. These external factors make it challenging to offset the cost increases independently. To ensure stable production and meet customer demands, the increased costs will be promptly incorporated into the sales prices.

For thin sheets, the additional charge for BA (bright annealing) finishes, which has remained high, will be adjusted. The previous JPY 30,000/t ($199/t) will be increased to JPY 60,000/t ($398/t) starting March.

BA products from the Nishinomiya Plant adhere to strict surface specifications, ensuring high gloss and uniformity, which adds significant value. Despite a previous adjustment in July 22, rising energy costs have persisted, prompting a review of the price to align with the product's value.

Note: This article has been written in accordance with an article exchange agreement between Japan Metal Daily and BigMint.