Strong Stainless Steel Sheet Price in Tokyo

Stainless steel sheet price is in strong tone at 480,000-490,000 yen per tonne for base sized SUS304 and at 220,000 yen for SUS430 around Tokyo.Demand is firm for both nickel series and chrome series stainless steel sheets, which seems to keep increasing by 20-30% per month from a year ago until March 2007 from a year ago. Demand keeps especially strong for export. Stainless steel sheet makers gain main profits from export.There seems stock out in some sizes, mainly base sizes, at dealers’ sites, when makers take shipment precedence for specific users. Inventory to shipment rate of nickel series stainless steel sheet stayed at as low as over 1.4 months in October, according to Japan Stainless Coil Center Association. The inventory was at lowest level in the past.Nickel price at London Metal Exchange is currently increasing again. The spot price recovered to US$ 14 per pound last week after decline to about US$ 12 and hit new record at US$ 15.6 on November 24.Under the situations the market price of nickel series products is expected to maintain strong.