Nippon Steel & Sumikin
Stainless Corporation (NSSC),
Japan's largest
stainless steel producer, hiked prices of its nickel-based sheet products by another Yen 5,000/mt ($42/mt) or 1.6 percent due to rising nickel prices. The producer announced a similar increase for the same products in March.
Accordingly, NSSC has increased prices for its 304-grade steel to Yen 320,000/mt (approx. $2,700) from Yen 315,000/mt ($2,655/mt) in March.
Nippon Steel Corp holds an 80 percent stake in NSSC, while the remaining 20 percent is held by Sumitomo Metal Industries Ltd.