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Nippon Steel comprehensively lowers stainless steel contract prices for Aug 2022

Nippon Steel Stainless Steel Co., Ltd. announced on August 4 the contract price adjustment plan for domestic stainless steel plate signed in August 2022. Prices for SUS304 nickel series cold-rolled sheet and plate and SUS430 chrome series cold-rolled sheet declined by JPY40,000/t (USD296/t) and JPY5,000/t (USD37/t) respectively, while the basic prices remained unchanged and only the alloy surcharges were adjusted. This is the second consecutive month that it lowered the price of nickel series stainless steel plates, and is also the first time since April 2019 that it lowered the price of chromium series stainless steel plates.