Nippon Seisen to Raise Stainless Steel Wire in July

Japanese biggest stainless steel wire maker, Nippon Seisen raises the selling price from the shipping in July due to increased stainless wire rod. Nickel series stainless steel wire is increased by 165,000 yen per tonne for SUS 304 for spring, by 180,000 yen for SUS 304S for fence and kitchen, by 175,000 yen for SUSXM7 for screw. The firm will negotiate with each user for high nickel series products such as SUS310S with nickel content. Chrome series product is increased by 25,000 yen.The firm’s price hike was fifth for nickel series product for in this year, was third for chrome series products. Stainless steel wire rod price rose largely after June last year due to increased nickel price and tighter chrome series wire rod supply. Nippon Steel & Sumikin Stainless Corporation and Daido Steel, both major stainless wire rod makers, increased the selling price of wire rod by 155,000 yen per tonne for nickel series, by 20,000 yen for chrome series.