Stainless Cold Flat Price Hits 480,000 yen/t in Tokyo

Stainless cold rolled flat steel price increased by 20,000 yen to 480,000 yen per tonne for SUS304 grade with 2 millimeters thick since mid-November around Tokyo. The price could reach 500,000 yen in early December when some distributors already offer 500,000 yen. Nippon Steel & Sumikin Stainless Steel announced on November 11 the firm increases the selling price to 525,000 yen per tonne to cover higher nickel price. With the higher nickel price, the makers are likely to increase the price again in December. The processors’ inventory of nickel series cold sheet was 1.46 months of the shipment at the end of October, which was much lower than 1.7 months of normal level. The supply is expected to keep tight under the demand season. The distributors have stock out sizes when distributors are reluctant to build inventory with higher stock risk and makers reduce shipment to distributors in order to meet the strong demand from contract users.