Daido Steel to Increase Stainless Wire Rod Price by 5,000-10,000 yen/T

Daido Steel increases nickel series stainless steel wire rod price by 5,000-10,000 yen per tonne for the order in March-May to cover higher cost for nickel, copper and molybdenum. The firm increases the price for 4 quarters in a row.

Daido Steel increases stainless wire rod price by 5,000 yen per tonne for SUS 304J3 and by 10,000 yen for SUS XM7, SUS 303Cu and SUS 316. The firm explains the higher price doesn’t cover higher raw materials cost from mid-February. The firm studies new price system to reflect change of raw materials cost faster when the raw materials cost could increase the volatility.

Nippon Seisen, Osaka based major stainless steel wire maker increases stainless steel wire price by 5,000 yen per tonne for SUS 304 J3 and by 10,000 yen for SUS XM7, SUS 310S, SUS 316 and SUS 303Cu for April Order. The firm plans to increase the price more depending on the raw materials cost. Nippon Seisen is a subsidiary of Daido Steel.