Firm Stainless Flat Steel Price in Tokyo

Nippon Steel & Sumikin Stainless Steel (NSSC) announced the 14-month consecutive price hike for nickel series stainless flat steel to cover higher nickel cost. The distributors around Tokyo try to pass the higher cost price on the reselling price. The market price could increase from 560,000-570,000 yen per tonne for SUS304 for base size and 225,000-230,000 yen for SUS430 grade around Tokyo. The demand keeps firm for automobile and appliances despite of slow demand for construction. Domestic maker source said offshore users also increase the inquiry for Japanese maker. Japanese stainless coil centers’ inventory was 107,000 tonnes including nickel and chrome series products at the end of January, according to the industrial group. The stock was in normal level at 1.86 months of shipment though some distributors see the level was relative higher. Domestic makers try to reduce the supply to increase the selling price. Nickel price at London Metal Exchange reached US$ 19 per pound on February 20 after the surge from averaged US$ 16.69 in January, US$ 15.68 in December and US$ 14.57 in November. Japanese stainless makers try to cover the extra higher raw material cost by increasing the selling price.