Nippon Steel & Sumikin Stainless Steel has announced that the firm lowers its selling price of nickel series cold rolled stainless steel sheet and plate by JPY 10,000 per tonne for October shipment and contacts prices against domestic dealers. The revision reflects the decrease of averaged nickel price. The sales price of nickel series cold rolled stainless steel sheet becomes JPY 345,000 for the size with below 2 millimeters of thickness, decreasing for 2 months in a row. For chrome series cold rolled stainless sheet, NSSC sets the price unchanged. Nickel price has declined at London Metal Exchange from the peak level at USD 12.82 per pound in February. NSSC's nickel series cold rolled stainless sheet price has decreased by total JPY 55,000 from the peak level at JPY 400,000 per tonne for May shipment. LME nickel price was averagely USD 9.25 per pound in September, down from USD 10.02 in August. Chrome average price was 128 cents per pound in September, as same as in August. JPY exchange rate was averagely JPY 77.88 per US dollar in September, which was JPY 78.27 in August. NSSC explained dealers' trading volume is low due to low nickel price and dealers are continuing inventory adjustment while some dealers seek bottom price in balance with raw material price. As for plate, NSSC said shearing processors can't purchase stainless plate due to dropped nickel price in the last half of September while the demand seems doubling compared with April to July for water gates and power plants. NSSC showed an expectation the demand could also increase for LNG development projects in Middle East and Australia, oil chemical plant projects in Asia and seawater desalination projects in Middle East.

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