NSSC Lowers Stainless Wire Rod Price for September-November

Nippon Steel & Sumikin Stainless Steel Corporation (NSSC) announced on Monday the firm revises down its stainless wire rod by 25,000 yen per tonne for nickel series for SUS304 for September-November order and by 5,000 yen for chrome series including SUS410 and SUS430. Nickel series wire rod price decreases for 2 quarters in a row. The range of price cut is about 5%. Chrome series wire rod price decreases for the first time in a year. The price cut range is about 2%.

NSSC reflected nickel and chrome prices of July-September shipment and yen exchange rate for April-June on the selling prices. Nickel average price was US$ 10.10 per pound, down from US$ 10.99 for April-June, while chrome average price was 128 US cents per pound, down from 143 US cents in the previous quarter. Yen exchange rate was averagely 78.95 yen per US dollar, stronger than 82.75 yen per US dollar in the previous quarter.

NSSC also revised down alloy grade extra charges. Extra charge decreases by 30,000 yen per tonne for SUSXM7 and SUS303, by 40,000 yen per tonne for SUS316 and by 55,000 yen per tonne for SUS310S.