Japan Stainless Cold Steel Import Jumps in December

Japanese import of stainless cold rolled flat steel increased by 2,000 tonnes or 34.6% to 7,765 tonnes in December from November. Most of the import was from POSCO of South Korea. The South Korean maker makes money through import when the stainless demand in South Korea was very slow. Offshore makers should get smaller export merit through the raw materials surcharge price mechanism under extra higher nickel price and lower yen rate. The import is changing factor for Japanese market price though the import in January is likely not to exceed the level in December.