Reportedly, Nippon Steel & Sumikin Stainless (NSSC) announced to raise its prices for ferritic wire rods by ￥5,000/ton for December-February contracts.

However, it remained its prices for austenitic wire rods unchanged for the given period of time.

NSSC said that the average nickel prices have dropped by US$1.27/lb. to US$7.18/lb. from September 26 to December 19. The ferrochrome prices have decreased by US$0.4/lb. to US$1.23/lb.

However, the Japanese Yen depreciated by ￥10.77 against the US dollar to ￥115.54.

NSSC indicated that it would adjust its extra charges, depending on the alloy component to reflect dropped nickel prices.