- Japan’s Nippon Steel has cut nickel-based cold-rolled stainless steel sheets prices for the first time in the last six months by JPY 20,000/t ($146/t) for Mar’23 contracts.
- The price cut was amid a drop in LME’s nickel prices and volatile foreign exchange rates.
- Earlier, the steelmaker increased prices by around JPY 55,000/t ($402/t) for four consecutive months from Oct’22 and left Feb’23 contract prices unchanged.
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