Firm Stainless Cold Rolled Sheet Price in Tokyo

Stainless cold rolled flat steel market price is expected to increase from 510,000-520,000 yen per tonne for SUS304 and 250,000 yen for SUS430 grade around Tokyo. Nippon Steel & Sumikin Stainless Steel announced first price hike for nickel series stainless flat steel for March order when nickel ingot price rebounded. Chrome series stainless price also increases due to higher cost of chrome. The dealers see the market hit bottom for the first time since summer 2007. The price level is expected to increase despite of the slower demand when the coil centers’ shipment decreased for 3 months in a row through January and the shipment is estimated to decrease in February. The makers try to keep the output reduction through June while the makers ship more for contract users and offshore buyers. JFE Steel and Nisshin Steel increased the selling price of chrome series stainless by 30,000 yen per tonne for April shipment under tight supply and higher cost for materials. The dealers try to realize 280,000 yen per tonne of reselling price toward April.