Cold Stainless Steel Price to Weaken around Tokyo

Stainless cold rolled flat steel market price is weak at around 450,000 yen per tonne for SUS 304 base size around Tokyo while the price is flat at around 270,000 yen per tonne for SUS 430 base size. For the demand of stainless steel is weakening, price for chrome series changed into flat from to increase.

Demand for Stainless steel is softening not only for construction also for automobile. Major dealer source said the shipment decrease when the processors’ business condition worsens and dealers’ inventory doesn’t decrease.

Nickel price declined into less than US$7 per pound at London Metal Exchange in the end of last week. The firm pointed, stainless steel users avoid purchasing for the material price trends are unclear. Cheaper import nickel series stainless from South Korea also make the market price drop. A dealer source forecasts price could decrease forward.