Weak Ni Stainless Cold Sheet Price in Tokyo

Nickel series stainless cold rolled flat steel market price keeps weak tone at around 410,000-430,000 yen per tonne for SUS304 base size around Tokyo. The price is expected to decrease more when overseas product prices in South Korea or China is cheaper than domestic market price by 10-20% and actual demand is slow. Dealers’ shipment keeps stagnant when many dealers hold procurement when nickel ingot price is expected to drop.

Dealers’ trading volume is decreasing around Tokyo. Japanese stainless steel makers continue output reductions by 30-50% compared with the normal level but the market inventory maintains excess due to the users’ conservative buying.

Dealers sustain the reselling price on strong stance despite of cheaper overseas products and nickel price.

Nippon Steel & Sumikin Stainless Steel, Japanese biggest stainless maker announced the firm halves the output in November compared with normal months and skips the order receipt for 4 consecutive months. Nisshin Steel is reducing the output by 10%.