Suzuki Metal Industry to Hike Stainless Steel Wire

Suzuki Metal Industry announced on Thursday the firm will increase the selling price of stainless stele wire by more than 20% for June order or July shipment. The firm tries to cover the higher cost for surging nickel, stainless wire and subsidiary materials when the firm cannot absorb the cost by the own effort. The firm will increase the price by more than 165,000 yen per tonne for SUS304 spring wire and mesh wire and by more than 175,000 yen for SUSXM7 wire for screw. The firm also starts price hike negotiation with individual users to increase the special grade stainless wire including heat resistant grades. The firm increases the chrome series stainless wire by more than 25,000 yen per tonne and improves the size extra charge, for which the firm started the activity for April shipment. The firm also improves the settlement condition with individual buyers after the wide hikes since July 2006.