Nippon Seisen to Hike Stainless Wire by 110,000 yen/t

Nippon Seisen, which is Osaka based Japanese top stainless steel wire maker with around 2,200 tonnes of monthly sales, will increase the selling price of nickel series stainless wire by 110,000 yen per tonne for September order or October shipment. The firm increases the chrome series wire price by 15,000 yen. The firm tries to cover jumping cost of material wire rod and other materials. Japanese stainless wire rod makers increased the selling price widely for September after hike in May when nickel price keeps surging and renewing record many times. Nippon Steel & Sumikin Stainless Steel announced the firm increases the selling price by 90,000 yen per tonne for nickel series stainless wire rod and by 10,000 yen for chrome series products for September order and October shipment. Daido Steel said the firm increases the selling price by 30,000 yen for nickel series and by 10,000 yen for chrome series for July order or September shipment. They are expected to increase the price more. Nippon Seisen decided the hike to cover higher cost of other materials along with high rod cost when the firm cannot absorb the higher cost by own effort. The firm increases the price by 110,000 yen per tonne for SUS304 grade and by 115,000 yen for SUSXM7, which is used for rivet and screw while the firm seeks hikes for other high nickel items depending on nickel contents. The firm increased the stainless wire price by 50,000 yen per tonne for nickel series for May 2006 and by 10,000 yen for chrome series for May 2005. The firm said the distributors and users would understand the hike under surging raw materials even the extreme wide hike.