Daido Steel reduces the selling price of SUS304M stainless steel wire rod by 160,000 yen per tonne for September order based on the surcharge mechanism. The firm reflects the lower nickel price and turns into reduction phase after the series of hikes since spring 2002. The firm keeps the chrome series stainless price. The firm said the order decreased by more than 10% when the buyers expect lower price. However, the firm expects the demand could recover with firm actual demand when nickel ingot price regains stability. The firm tries to offer solutions including chrome series new items to meet users’ demand when the users try to shift to chrome series from nickel series products. The firm eyes price hike for chrome series products in and after October order to cover higher cost for ferrous scrap and ferrochrome.
Japan Steel Scrap Composite Prices (Sangyo Press)
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