Suzuki Metal Industry Rises Stainless Wire Price by Over 15%

Tokyo based stainless wire maker, Suzuki Metal Industry increases the selling price of nickel series stainless steel wire price by more than 15% for December order or January shipment. The price increases to more than 90,000 yen per tonne for spring and fence application and to more than 110,000 yen for screw. The firm also starts price hike negotiation for special steel extra to cover higher wire rod extra charge. The firm increases the price to cover higher cost when stainless wire rod makers increased the selling price for December order. The firm also tries to cover higher cost for nickel plate and subsidiary materials when the firm cannot absorb all of the higher cost by own effort. Domestic stainless steel wire demand is firm with around 10,000 tonnes per month of shipment.