Nippon Steel&Sumikin Stainless the largest stainless producer in Japan announced to raise the prices for austenitic rod by JPY 10,000 per tonne for December to February contracts,in order to reflect higher nickel prices.
The firm stated that the average nickel prices between September 26th and December 19th rose to US$7.73/lb.from US$7.38/lb.in the previous reference period.
However,in the given period of time,the ferrochrome prices declined to USD 1.18 per lb from USD 1.33 per lb.Thus,it cut the prices for ferritic rod by JPY 5,000 per tonne.
Source:
http://www.steelguru.com/stainless_steel_news/NSSC_hikes_austenitic_rod_prices_for_Dec_to_Feb_contracts/296567.html
