Firm Stainless Plate Price in Tokyo

Stainless plate market price is strong tone at 680,000 yen per tonne for SUS304 hot strip mill products, at 780,000 yen for SUS304 plate mill products, 1030,000 yen for SUS316 hot strip mill products and 1.13 million yen for SUS316 plate mill products around Tokyo. The market inventory slightly increased, but the dealers’ shipment keeps firm compared with same period of last year. Stainless plate market price has higher rate of all stainless products.Average nickel ingot price renewed record, which increased to US$ 23.67 per pound by about US$ 1 from last month and by about US$ 2.6 from March at London Metal Exchange on May. Japanese stainless makers are expected to raise their selling price of steel plate by about 50,000 yen per tonne in this month due to cheap yen rate keeps. The price temporally reached US$ 23 and keeps high level. The ingot price could increase more with higher stainless demand and lower LME nickel inventory. The makers will raise their selling price with nickel price.Dealer source said fabricators using steel is expected to change to other material from stainless steel plate due to higher nickel price, but it requires time because stainless plate can’t be used for other material.