Firm Stainless Bar Price in Tokyo

Stainless steel bar market price is firm at 690,000-710,000 yen per tonne for SUS304 grade and at 1.02-1.05 million yen for SUS316 grade around Tokyo. The price is likely to keep firm with pressure by higher cost of nickel ingot. The distributors have trouble to pass the aggressive hikes by stainless makers. A trading firm source said some distributors still sell products at price more than half year ago. Surging nickel ingot price pressures the stainless price.Nickel ingot price exceeded US$ 24 per pound at London Metal Exchange on Wednesday compared with average US$ 22.80 in April. The higher nickel price should lift the stainless price again. The demand is firm for plants and food making facilities and distributors’ sales are also active. The distributors’ inventory keeps low level. However, the distributors still try to pass the higher cost price on the selling price after makers hikes for May order.