NSSC adds $421/t to rod Mar-Apr sales on emergent hike

Nippon Steel Stainless Steel Corp (NSSC), Japan's largest stainless producer under Nippon Steel, has decided to introduce an emergent price hike by adding a hefty Yen 50,000/tonne ($421/t) to its list prices of 300-series stainless wire rods for March-April sales amid the turmoil in the global nickel market, according to a company official.

"Since it's very hard to predict the nickel price movement with confusion prevailing in the market, so we've decided to shorten the price term (to two months from three months) temporarily to avoid potential risks," the official explained. NSSC's latest price increment for 300-series grade wire rods was decided through