Firm Stainless Plate Price in Tokyo

Stainless plate market price is firm at 640,000 yen per tonne for SUS304 hot strip mill products, at 740,000 yen for SUS304 plate mill products, 980,000 yen for SUS316 hot strip mill products and 1.08 million yen for SUS316 plate mill products around Tokyo. The price is likely to increase more in early May under tight supply and high nickel ingot price. Nickel ingot price was US$ 22.63 per pound at London Metal Exchange on Friday. 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 stainless supply is expected to keep tight with higher demand for shipbuilding, chemical plant and seawater desalination plant. Japanese largest stainless plate maker of Nippon Steel & Sumikin Stainless Steel keeps full capacity operation. The plate demand keeps growing worldwide while domestic dealers’ shipment keeps as high as more than 12,000 tones per month.