Daido Steel to Hike Ni Stainless Wire Rod by 10%, Cr Series by 20%

Daido Steel will increase the selling price of stainless wire rod by around 10% for nickel series products and by around 20% for chrome series products for May order or June-July shipment. The firm tries to cover higher cost for ferrochrome, ferrous scrap, oil and subsidiary materials while the firm excludes the higher cost of nickel for the hike. The firm also adds some extra charge for small lot transaction and additional processing products on base price depending on the individual users’ condition. The firm increased the price for nickel series products for June 2007 order and for chrome series products for February 2008 order. The firm offers near C&F US$ 5,000 per tonne for offshore buyers while the offer is as high as more than US$ 6,100 for special products including SUSXM7 grade.