Posted on 05 Jun 2009
Nippon Steel & Sumikin Stainless Steel Corp. will raise prices on nickel-based stainless wire for the first time in a year on June-August contracts, with the price of benchmark SUS304 going up by 10,000 yen (US$104.33) per ton, or 3 per cent.
The move follows an increase in the average international price of nickel in the March-May term. The yen also depreciated against the dollar in that period compared with the preceding quarter.
Price hikes will be greater for products with higher nickel and copper content.
