NSSC to Increase Stainless Wire Price by 25,000-60,000 yen/t

Nippon Steel & Sumikin Stainless Steel (NSSC) announced on Monday the firm increases the selling price of stainless steel wire rod by 25,000-60,000 yen per tonne for high-valued products effective for December orders to reflect rising cost except alloy cost. As for alloy-surcharge system against monthly averaged nickel price at London Metal Exchange (LME) with 3 months, the firm will announce in the first half of next month.NSSC explained the product cost is increasing for high-valued products due to filtering of material or quality control. Wire rod for spring or fastener is requested carefully quality control more than stainless sheet because there is possible wire rod would climb down by a little blemish or inclusion.NSSC introduced ally surcharge system with 3 months from June order in 2006 and has revised the price with fluctuation of material price. The firm explained NSSC has requested the revision of the pricing with fluctuation of material price for users, but the revision of the pricing wasn’t enough for high-valued products.