Nippon Steel recently announced that it will mark up the domestic sales prices for stainless steel section by about 20% starting May 2022 as the Japanese steel maker finds it hard to bear the rising cost of raw materials amid further surge in nickel and chromium prices.

Likewise, Aichi Steel announced on April 14 that it will raise the sales prices for stainless steel bar section by 20-25% (nickel series) and 10-15% (chromium series) respectively starting with contracts signed in April.