Firm Stainless Sheet Price in Tokyo

Stainless sheet steel market price is firm with strong tone at 650,000 yen per tonne for SUS304 base size and at 245,000 yen for SUS430 around Tokyo. The nickel series stainless price became dull for increasing price due to increased inventory and decreased nickel price.The coil centers’ shipment for cold rolled stainless steel sheet decreased by 10.1% to 34,730 tones for nickel series products in May from a year ago and by 5.5% to 22,179 tonnes for chrome series products, according to the association. Dealer source said nickel series products’ shipment decreased from a year ago but isn’t bad compared with each year. The market for chrome series products is expanding due to replacement from nickel series products.The market inventory for nickel series products increased by 11.0% to 72,804 tonnes in May from a year ago and increased for 9 months. Nickel series products supply is seemed to excess.The import of cold rolled stainless steel sheet is increasing since April. Especially, the import from China continued over 1,000 tonnes for 2 months and was highest. The import from South Korea was over 10,000 tonnes for 2 months.Dealers are advancing their inventory adjustment and are decreasing an order to makers. Some dealer is selling at cheaper price and is hurrying clear out of inventory because some dealer has higher inventory products. Makers are moving to adjust the supply and demand by skip of the contract in June or decreased production with accepted order volume.Overseas market price for cold rolled stainless steel sheet is decreasing. South Korean major maker, POSCO decreased the selling price of hot and cold rolled products by 400,000 won per tonne from 11 June.