Nippon Seisen to Raise Stainless Wire by 90,000-110,000 yen/t

Nippon Seisen, which is Osaka based top stainless steel wire maker with more than 2,200 tonnes per month of production, increases the selling price of nickel series wire by 90,000-110,000 yen per tonne for December order of January shipment. The firm tries to cover the higher cost for the material wire rod and subsidiary materials in order to keep stable supply. The firm increases the price by 90,000 yen per tonne for SUS304 grade, 100,000 yen for SUS304S used for fence and kitchen and by 110,000 yen for SUSXM7 grade used for tack. The firm negotiates with the individual users to seek higher price depending on the nickel content for SUS310S and other grades. The firm left the chrome stainless wire price unchanged without hike by wire rod makers. The firm decided the third hike when the firm cannot cover all of the higher cost by own effort including cost cut in the production and sales operations with higher rod price and domestic tight supply of rod under firm rod demand at home and abroad. The firm tries to realize wide hike after 110,000 yen per tonne of previous hike to keep stable supply under tight rod supply. Domestic stainless wire rod makers increase the selling price to cover higher nickel price. Nippon Steel & Sumikin Stainless Steel increases the price by 80,000 yen per tonne for nickel series rod, by 90,000 yen for SUSS grade and by 100,000 yen for XM7 grade for December order or January shipment, which is third hike in the year. Nippon Seisen said Daido Steel also seeks additional hike.