NSSC to hike wire rod prices by Yen 40,000

Nippon Steel & Sumikin Stainless Corporation (NSSC), Japan's largest stainless steel producer, announced base price increase of Yen 40,000/mt ($358/mt) for its nickel series stainless wire rod products for June orders or July rolling. The price increase indicates the first hike since Yen 30,000/mt ($268/mt) increase for April orders in 2005. NSSC has also hiked the extras by Yen 10,000-60,000 ($89-536) for products with higher nickel content and copper content.