Ni Stainless Price Keeps Flat with Potential Increase in Tokyo

Stainless cold rolled flat steel market price keeps flat at 510,000-520,000 yen per tonne for SUS304 grade products around Tokyo. Nickel price rebounded and dealers’ inventory has been reduced. Dealers’ sales are likely to increase in March over the previous month. Large major dealer source said the market price hit bottom and inventory adjustment was over. Dealers would try to raise reselling price then.However, a dealer source said some dealers are selling products at lower prices. Japanese stainless steel makers will continue output reduction despite of decreasing market inventory. Nippon Steel & Sumikin Stainless Steel (NSSC) announced the firm continues output reduction for cold rolling operation by 30% until June. Consequently, dealers’ inventory is likely to reduce more.Nickel price exceeded US$ 15 per pound in early March and sustains around US$ 14-15 recently. NSSC is expected to raise selling price in April.