It’s reported that Nippon Steel & Sumikin Stainless (NSSC) announced to cut domestic prices for its austenitic and ferritic stainless rods by ¥15,000/ton and ¥5,000/ton for September-November contracts.
NSSC said that it decided to cut prices due to lower alloy costs and weak Japanese Yen during June-September.
Also, the average nickel prices dropped by US$0.5/lb. in the calculating period and the average ferrochrome prices fell by US$0.145/lb.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=66444&division=A4
