- Nippon Steel will lower stainless steel wire rod prices for domestic market by JPY 20,000/t for nickel-based (SUS304) and JPY 5,000/t for chromium-based (430) steel for Mar-May’23 contracts.
- This happened mainly because of rising molybdenum prices. Meanwhile, chrome prices stayed stable and the yen appreciated against the dollar.
- Earlier, the steelmaker increased prices by JPY 55,000/t (SUS316), JPY 15,000/t (SUS303) and JPY 35,000/t (SUS310S) for Feb’23 contracts.
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