Weak Ni Series and Strong Chrome Series Stainless Price in Tokyo

The market price of stainless steel sheet is weak tone at around 620,000 yen per tonne for nickel series products or SUS 304 and is strong tone at around 245,000 yen for chrome series products or SUS 430 around Tokyo.Nickel ingot price came to rest decreasing and is changing rising tone. However, average ingot price is seemed to be same level at over US$ 12 in August. Dealer source said nickel series products price may rise if nickel ingot price would become stably.The demand for nickel and chrome series products is firm. Especially, chrome series products supply is becoming tight due to conversion of steel grade from nickel series. Japanese stainless steel makers keep full-operation.Distributors’ inventory of nickel series products was 2.92 months of the shipment in August and hit a new record high, according to Japan Stainless Coil Center Industry Association. The inventory is expected to decrease from this month. However, it sounds that dealers’ inventory adjustment take time.