Stainless Cold Flat Price Keeps Strong

Stainless cold rolled flat steel price is strong with 2 millimeters thick for nickels series and chrome series around Tokyo. The market price is 600,000-620,000 yen per tonne for SUS304 grade and 230,000 yen for SUS430. Domestic makers’ price hikes are penetrating. However, dealers’ price hike cannot keep up with makers’ price hike. Users put up strong resistance. Makers’ price hikes lag for large users, and temporary pause for distributors.The demand for nickel and chrome series products keeps firm. Orders for distributors are good. Coil centers’ shipment tuned around rising in February which decreased for 3 consecutive months from November 2006, Japan stainless Coil Center Association.Makers’ production is tight when material price hike and increased export. Makers cannot supply against strong demand, which are forced to reduce the supply for distributors. Dealer source said his firm is hard to purchase the stainless steel products.Nickel price was averaged US$ 21.01 per pound at cash price of London Metal Exchange in March renewing monthly record in February. It is certain that domestic stainless steel sheet makers raise their nickels series sheet price for distributors by over 40,000 yen per tonne in April. The market price is expected to go into 650,000 yen per tonne.