Japanese steelmaker, Sumitomo Metal Industries (SMI) said that it will raise domestic stainless steel seamless pipes price by 10 percent on nickel price rise.

The price will apply to the domestic buyers for spot sales and long-terms contracts. The company also said that it will continue to raise the price if the nickel price on upward trend.

The company expects the demand will also increase from the sectors including power generation, oil refining and petrochemical.