Weak Ni Stainless Flat Price, Firm Cr Stainless in Tokyo

Stainless flat steel market price is weak at 620,000-630,000 yen per tonne for SUS304 base size while the market price is firm at 245,000 yen for SUS430 grade around Tokyo. The price is divided into strong chrome series market with firm demand while nickel series price decreases with slower demand. The buyers are reluctant to buy nickel series materials with expectation for lower price due to nickel ingot price drop. The buyers wait the additional price down by the domestic makers. Nickel ingot price rebounded at London Metal Exchange in the month after the continuous drop until August. Japanese stainless interests see the market adjust the too much drop. Nickel demand is still slow when stainless makers reduce the nickel series stainless output in China and South Korea along with Japan. LME Nickel average price was US$ 12.5 per pound in August, which dropped for 3 months in a row. The nickel stainless price depends on the nickel ingot market. JFE Steel increased the selling price of chrome series stainless steel in August. The higher price is likely to be accepted by the market sooner.