Nippon Steel & Sumikin
Stainless Corporation (NSSC),
Japan's largest
stainless steel producer, announced yesterday that it would increase prices of its nickel series
stainless cold rolled sheet and
plate products by Yen 5,000/mt ($42/mt) or 1.6 percent due to rising nickel prices.
Accordingly, NSSC has increased prices for its 304-grade steel to Yen 315,000/mt ($2,656) from Yen 310,000/mt ($2,614/mt) in February.
Nippon Steel Corp holds an 80 percent stake in NSSC, while the remaining 20 percent is held by Sumitomo Metal Industries Ltd.