Strong Stainless Plate Price in Tokyo

Stainless steel plate trading is firm in Tokyo. The market price is strong at around 390,000 yen per tonne for SUS304 hot cut sheet with 3-6 millimeter thick and at around 500,000 yen for plate mill products with 7-14 mm thick.Japanese makers’ selling prices are increasing since the beginning of 2006. The demand is active for semiconductor production machine and liquid crystal television. The supply is tight thanks to active business investment worldwide. In the market, there are stock out and delivery delay for some products at dealers. The makers cannot meet the demand despite of full production.Monthly averaged nickel spot price at London Metal Exchange was US$ 13.95 per pound in August, increasing by US$ 1.9 from July. Stainless steel price is said to increase by around 20,000 yen per tonne when nickel price surges by US$ 1 per pound. Japanese stainless steel plate makers are likely to raise the selling prices more for distributors.Japanese major stainless steel makers, Nippon Steel & Sumikin Stainless Steel and Nisshin Steel will announce the selling prices in September. They could raise the prices by about 40,000 yen per tonne accounting for high nickel price and cheaper yen rate.