NSSC Lowers Ni Series Wire Rod Price while Raises Cr Series for June-August

Nippon Steel & Sumikin Stainless Corporation (NSSC) announced on Monday the firm lowers the selling price of nickel series stainless steel wire rod by 15,000 yen per tonne for SUS304 of June-August contracts from March-May while raises the selling price of chrome series stainless steel wire rod by 5,000 yen for SUS410 and SUS430. The price revision is based on 3-month fluctuation of raw materials. This is NSSC’s first price down of nickel series wire rod in recent 3 quarters while the first price up of chrome series wire rod in a year.

NSSC also revises alloy extra prices, down by 25,000 yen per tonne for SUS XM7, by 20,000 yen for SUS303, by 25,000 yen for SUS316 and by 45,000 yen for SUS310S.

The latest price revision is based on 3-month averages of nickel price, chrome price and yen exchange rate against US dollar from March 26 to June 25 compared with the previous quarter. Nickel price decreased by US$ 1.23 per pound while chrome price increased by US$ 0.1 per pound. Yen exchange rate strengthened by 0.56 yen per US dollar.

NSSC explained the firm’s order receipts of stainless wire rod decreased by around 15% mainly for automobiles during May-June against April while the firm expects for the order recovery in and after July along car production increase. About 30% of NSSC’s wire rod shipment is for automobile industry.