NSSC to Increase Cr Stainless Wire Rod Price for June-August

Nippon Steel & Sumikin Stainless Steel (NSSC) announced on Tuesday the firm leaves selling price of stainless steel wire rod unchanged for SUS 304 grade for June-August order from March-May. The firm increases the chrome series wire rod selling price by 5,000 yen per tonne for SUS 430 grade.

NSSC should reduce the nickel series wire rod selling price for June-August order under the alloy charging mechanism to reflect lower nickel price. However, the firm increases the base price for the first time since June-August 2008 due to higher energy cost mainly for electricity and gas. The higher base price offsets lower alloy charge. The firm passes higher chrome cost on selling price of the chrome series wire rod.

NSSC reduces extra charge for the wire rod based lower nickel price. The firm reduces the extra charge by 5,000 yen per tonne for SUS XM7 grade, SUS 316 grade and SUS 303 grade. The firm cuts the extra charge by 25,000 yen for SUS 310S.

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